Arsenal Resources: Arsenal Resources completes second Chapter 11 reorganization

A Pennsylvania-based natural gas producer has emerged from its second Chapter 11 reorganization in 2019, Kallanish Energy reports. Arsenal Resources’ pre-packaged plan to give all of its equity to creditors was approved by U.S. Bankruptcy Judge Brendan Shannon in Delaware on Dec. 19. The plan, including recapitalization, is expected to go into effect in early January. Under the plan, Arsenal said it expects to be cash flow positive in 2020, and said it's well positioned to execute on its operational plan.