Bankrupt Azure Midstream has $151 mln offer lined up for auction
Natural gas gatherer and processor Azure Midstream Partners LP is seeking a court order to approve its plan to sell itself at auction next month with a $151.1 million offer by M5 Midstream LLC to set a floor on bidding.
Azure said in court papers filed Friday in U.S. Bankruptcy Court for the Southern District of Texas that it aims to hold an auction on March 10 with M5, another gas processor, serving as a stalking-horse.
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