Argent sale, investment solicitation process to continue in CCAA case

By Caroline Salls

Pittsburgh, Feb. 19 – Argent Energy Trust received approval from the Court of Queen’s Bench of Alberta to continue its previously announced sale solicitation process, according to a news release.

The process will be conducted within Argent’s Companies’ Creditors Arrangement Act proceedings by The Oil & Gas Clearinghouse, LLC under the supervision of court-appointed monitor FTI Consulting Canada Inc.

The company said the process is intended to generate interest in either the business or the assets of subsidiary Argent Energy (U.S.) Holdings Inc.

Under the court-approved process, bids are due by 6 p.m. ET on March 17.

Argent is a foreign asset trust based in Calgary, Alta., with oil and gas properties located primarily in south Texas and Oklahoma.

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