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Management cannot reasonably estimate the outcome of this action at this time.
−Removed: WGR Operating, LP (“WGR”), another wholly owned subsidiary of WES, finalized negotiations and agreed to a consent decree with the State of Wyoming with respect to alleged non-compliance with LDAR requirements at its Granger, Wyoming facility.
−Removed: The consent decree has been filed with the Wyoming court, and WGR has timely paid a $100,000 fine to the State of Wyoming.
On August 12, 2019, Sanchez Energy Corporation and certain of its affiliated companies (collectively, “Sanchez”) filed a voluntary petition for relief under Chapter 11 of the U.S.
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On April 29, 2020, we received notice that Sanchez filed a motion to reject a number of midstream and downstream agreements with commercial counterparties, including Sanchez’s Springfield gathering agreements and agreements obligating Sanchez to deliver the gas volumes gathered by the Springfield system to our Brasada processing plant.
−Removed: We do not believe the Springfield gathering and related agreements are eligible for rejection as a matter of law, and we have therefore filed both an objection to the proposed rejection, and an adversary proceeding for a declaratory judgment that such agreements may not be rejected.
+Added: We objected to Sanchez’s rejection and instituted an adversary proceeding regarding such rejection.
+Added: On May 6, 2021, the Bankruptcy Court issued an opinion determining, among other things, that Sanchez’s Springfield gathering agreements were rejected, but that such agreements contain covenants running with the land that survive rejection, thus preserving the acreage dedication to our Springfield system.
+Added: We intend to continue defending our contractual rights in the bankruptcy proceeding.
On May 15, 2020, Gavilan Resources LLC (“Gavilan”), an entity that owns a 25% working interest in the acreage where the Springfield gathering system and Brasada processing plant are located, also filed for Chapter 11 bankruptcy protection.
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Instead, the assets sold to Mesquite remain subject to any covenants, servitudes, or similar agreements that could be equitable servitudes or covenants running with the land, pending a further order of the bankruptcy court.
−Removed: As with the Sanchez agreements, we do not believe Gavilan’s agreements may be rejected or left behind and believe they should remain attached to the Gavilan assets.
−Removed: We cannot make any assurances regarding the ultimate outcome of these Sanchez and Gavilan proceedings and their resulting impact on WES due to the uncertainties associated with the bankruptcy process.
+Added: We cannot make any assurances regarding the ultimate outcome of these Sanchez and Gavilan proceedings and their resulting impact on WES due to the uncertainties associated with the ongoing bankruptcy process.
On October 29, 2020, WGR, on behalf of itself and derivatively on behalf of Mont Belvieu JV, filed suit against Enterprise Products Operating, LLC (“Enterprise”) and Mont Belvieu JV (as a nominal defendant) in the District Court of Harris County, Texas.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.