Southcross Energy Completes Reorganization, Emerges from Chapter 11 Bankruptcy
Southcross Energy Partners LLC has emerged from Chapter 11 bankruptcy and completed its reorganization as a gathering and processing company focused on the Eagle Ford Shale region.
Southcross’ gathering and processing assets include the Lone Star and Woodsboro gas processing plants, the Bonnie View fractionation facility and the Lancaster and Valley Wells gathering and treating system.
With the completion of the court-supervised process, the company is consolidating its headquarters in Houston to be completed on or before the end of the first quarter this year.
The company also announced a change in leadership as well as the establishment of a Board of Directors. The Southcross Board comprises five directors, including Jacqueline (Jacqui) Dimpel, Robert N. Fitzgerald, Patrick Giroir, William (Bill) Waldheim and Matthew R. Bob.
Patrick Giroir will be replacing Jay Swent as interim CEO. Swent will continue to serve in an advisory role over the coming weeks.
After the reorganization, Southcross is a privately held company and shares of its units will no longer be listed on any public market.
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