Alberta · CCAA
Eighth Report of the Monitor - 2026.06.15
Court officer report · 15 June 2026
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What we verified from this filing11 verified
- cash on handnote: Includes approximately $2.3 million held in the Promigas Trust (which cannot be accessed by the Applicants) and unrestricted cash of approximately $21.0 million; $1.0 million lower than forecast. · as at: 2026-06-06 · amount: 23300000 · currency: USD · qualifier: approximately
- disbursementsnote: Total operating disbursements for the 9-week period ended June 6, 2026, versus forecast of $67,491 thousand. · since: April 5, 2026 · amount: 53890000 · currency: USD
- operational summaryThe Applicants continue operating in the ordinary course while pursuing the SISP and negotiating amendments to certain key contracts (the Subject Agreements); cash flow has exceeded forecast due to stronger gas production and favourable vendor terms, but liquidity is expected to deteriorate as production declines absent a successful transaction or additional DIP financing.
- process resultsbids: 4 · lois: 10 · note: Ten non-binding LOIs received March 16, 2026; four bids received June 10, 2026 · as of: 2026-06-10
- professional feesnote: Actual disbursement per Summary of Reported Receipts and Disbursements; forecast for the same period was $8,193 thousand (variance of $921 thousand). · party: Various professionals (Applicants', Monitor's and DIP Lenders' advisors and counsel) · amount: 7272000 · period: 9-week period ended June 6, 2026 · currency: USD
- receipts cumulativenote: Total receipts for the 9-week period from April 5, 2026 to June 6, 2026, per the Summary of Reported Receipts and Disbursements; significantly exceeded the April 5 Cash Flow Forecast of $24,331 thousand. · since: April 5, 2026 · amount: 39721000 · currency: USD
- report date15 June 2026
- report noEighth Report
- sale advisorMoelis & Company LLC
- sale outcometext: SISP ongoing; bids received and under review; contingency plans for credit bid or liquidation · scope: whole_business · status: liquidation_in_progress
- stalking horsestate: stated