Chaffe & Associates, a New Orleans-based middle market investment bank, announces the completion of Trimont Energy’s Chapter 11 bankruptcy restructuring, along with the closing of the company’s two major asset sales. Chaffe advised Trimont on the bankruptcy process and both deals, which closed before the end of 2024. “We are extremely pleased to have advised Trimont on these significant transactions, and more importantly the positive outcome of the overall bankruptcy case,” said Michael H. Schmidt, Managing Director of Chaffe’s Corporate Finance Group. “The successful sales of the Garden Island Bay and East Bay fields are fantastic outcomes for the creditors of Trimont, field employees, and the State of Louisiana. These deals not only underscore asset values but also highlight the Gulf Coast’s potential for future energy production. Closed on Nov. 27, 2024, Trimont affiliate Whitney Oil & Gas LLC sold its East Bay assets to Torrent Gulf Coast GIB, LLC, with involvement from Devon Energy, the predecessor in title. East Bay included oil and gas properties and wells across multiple Louisiana state leases that are located just east of the mouth of the Mississippi River. East Bay was first drilled by Shell in 1951. Okin, Adams, Bartlett, Curry LLP represented Torrent in the transaction. Closed on June 11, 2024, Trimont sold its Garden Island Bay upstream oil and gas assets to Spectrum AR, LLC, a newly formed energy company with operations based in Louisiana and focused on domestic conventional production. The sale included Louisiana state lease 214 oil and gas assets, encompassing producing and non-producing reserves, shut-in or inactive wells, and transportation and storage facilities. Lugenbuhl, Wheaton, Peck, Rankin & Hubbard represented Spectrum in the transaction. Trimont’s bankruptcy was completed in the Eastern District of Louisiana, presided over by the Hon. Meredith S. Grabill. Trimont was represented by Heller, Draper, & Horn as Debtors’ counsel. In October 2023, Trimont Energy Limited, Inc., Whitney Oil & Gas, LLC, Trimont Energy (GIB), LLC, and Trimont Energy (NOW), LLC (collectively, the “Debtors” or “Trimont”) filed for bankruptcy protection under Chapter 11 and Subchapter V of the U.S. Bankruptcy Code. The debtors engaged Chaffe & Associates to advise them during the pendency of the bankruptcy and to run a sales process for substantially all the debtors’ assets.