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Yuma Energy to Liquidate After Bids for Properties Were 'Minimal'

Dow Jones Newswires · Oct 20, 2020 17:21

YUMAQ --

DJ Yuma Energy to Liquidate After Bids for Properties Were 'Minimal'

By Josh Beckerman

Yuma Energy Inc. said its chapter 11 bankruptcy case has been converted to a chapter 7 liquidation, after bids for its properties were "minimal" and an auction was canceled.

The oil and gas company said the bidding process reflected a severe pricing downturn, multiple operating issues and general industry conditions.

Yuma filed for chapter 11 in April.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

October 20, 2020 17:21 ET (21:21 GMT)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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