Paradox Resources files bankruptcy with over $50 million in debt

By Sarah Lizee

Olympia, Wash., May 23 – Paradox Resources, LLC filed Chapter 11 bankruptcy on Monday in the U.S. Bankruptcy Court for the Southern District of Texas.

In its petition, the company listed 1,000 to 5,000 creditors, $50 million to $100 million in assets and $50 million to $100 million in liabilities.

Its largest unsecured creditors are the Office of Natural Resources, based in Denver, with a $1.5 million government claim and Elk Petroleum Aneth, LLC, based in Denver, with a $1.34 million trade claim.

Okin Adams Bartlett Curry LLP is acting as general bankruptcy counsel.

Paradox Resources is a Houston-based midstream company primarily focused on helium processing and carbon capture, utilization and sequestration. The Chapter 11 case number is 23-90558.

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