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Rockhampton Energy reveals $3.9M in liabilities in bankruptcy filing

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Rockhampton Energy reveals $3.9M in liabilities in bankruptcy filing

As part of Rockhampton Energy LLC's Chapter 7 bankruptcy proceeding, the debtor revealed that it had about $2.9 million worth of assets and personal property as well as $3.9 million in liabilities, according to court documents filed Oct. 10.

The Kentucky-based Central Appalachian coal producer filed for bankruptcy protection Oct. 1.

Rockhampton had about $32,000 in cash but did not own any investments, inventory, office furniture, machinery, real property or intellectual property, according to the filings. The only other asset listed was Catalyst Resources LLC, a Lexington, Ky.,-based coal mining company, of which the debtor valued its share at nearly $2.9 million. The debtor still has a coal sales agreement and coal mining sublease with Catalyst Resources.

Among the creditors with priority unsecured claims, Rockhampton owes the IRS $992,000 and Mine Service Co. Inc., a mining equipment distributor based in Hazard, Ky., $995,000.

The coal producer generated $18.6 million in gross revenue in the first 10 months of the year and produced $22.7 million in gross revenue in 2018.