UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION

Exhibit 99.1

 

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

CASE NAME:

AZURE MIDSTREAM PARTNERS, LP, et. al.

PETITION DATE:     

1/30/2017

CASE NUMBER:

17-30461

 

 

 

 

MONTHLY OPERATING REPORT SUMMARY FOR MONTH

To Date

 

MONTH

 

Jan-30-Feb-28

 

March

 

April

 

May

 

June

 

From Petition Date

 

REVENUES (MOR-6)

 

$

3,199,478.14

 

$

 

$

 

$

 

$

 

$

3,199,478.14

 

INCOME BEFORE INT; DEPREC./TAX (MOR-6)

 

$

(2,844,655.33

)

$

 

$

 

$

 

$

 

$

(2,844,655.33

)

NET INCOME (LOSS) (MOR-6)

 

$

(4,060,044.62

)

$

 

$

 

$

 

$

 

$

(4,060,044.62

)

PAYMENTS TO INSIDERS (MOR-9)

 

$

46,766.43

 

$

 

$

 

$

 

$

 

$

46,766.43

 

PAYMENTS TO PROFESSIONALS (MOR-9)

 

$

 

$

 

$

 

$

 

$

 

$

 

TOTAL DISBURSEMENTS (MOR-7 and Exhibit A) **

 

$

7,998,988.44

 

$

 

$

 

$

 

$

 

$

7,998,988.44

 

 


**The jointly administered Debtors are authorized to file monthly operating reports on a consolidated basis, and have disbursements broken down by case number on Exhibit A attached**

***The original of this document must be filed with the United States Bankruptcy Court***

 

REQUIRED INSURANCE MAINTAINED

 

 

 

 

EXP.

 

AS OF SIGNATURE DATE

 

 

 

 

DATE

 

CASUALTY

 

YES x  NO o

 

 

10/14/2017

 

LIABILITY

 

YES x  NO o

 

 

10/14/2017

 

VEHICLE

 

YES x  NO o

 

 

10/14/2017

 

WORKER’S

 

YES x  NO o

 

 

10/14/2017

 

PROPERTY

 

YES x  NO o

 

 

5/31/2017

 

D&O

 

YES x  NO o

 

 

1/15/2018

 

 

 

CIRCLE ONE

 

 

 

 

 

Are all accounts receivable being collected within terms?

No

 

Are all post-petition liabilities, including taxes, being paid within terms?

Yes

 

Have any pre-petition liabilities been paid?

No

 

If so, describe

First Day relief granted for pre-petition payments of all ordinary course trade.

Are all funds received being deposited into DIP bank accounts?

No

 

Were any assets disposed of outside the normal course of business?

No

 

If so, describe

A sale order (Docket 172) has been entered approving the sale of substantially all of the Debtors’ assets.

Are all U.S. Trustee Quarterly Fee Payments current?

No

 

 

 

 

 

What is the status of your Plan of Reorganization?

Plan of Reorganization filed 3/20/2017.

 

ATTORNEY NAME:

Christopher M. López

FIRM NAME:

Weil, Gotshal & Manges, LLP

ADDRESS:

700 Louisiana Street, Suite 1700

 

 

CITY, STATE, ZIP:

Houston, TX 77002

TELEPHONE/FAX:

(713) 546-5000 / (713) 224-9511

 

I certify under penalty of perjury that the following complete Monthly Operating Report (MOR), consisting of MOR-1 through MOR-9 plus attachments, is true and correct.

 

SIGNED X

/s/ Amanda Bush

TITLE:

Chief Financial Officer

 

(ORIGINAL SIGNATURE)

 

 

 

 

 

 

 

Amanda Bush

 

3/21/2017

 

(PRINT NAME OF SIGNATORY)

 

DATE

 


Notes

(1) Taxes will be paid via sale proceeds - see sale order (Docket 172), paragraph 29.

 

MOR-1

Revised 07/01/98

 


 


 

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

 

CASE NAME:

AZURE MIDSTREAM PARTNERS, LP, et. al.

 

PETITION DATE:

1/30/2017

CASE NUMBER:

17-30461

 

 

 

 

 

MONTHLY OPERATING REPORT NOTES FOR FEBRUARY, 2017

 

Note 1                                    Debtor-in-possession Financial Statements - The accompanying schedules MOR-1 through MOR-9 and the supplemental exhibits contained herein are unaudited, preliminary, and may not comply with generally accepted accounting principles in the United States of America (“U.S. GAAP”) in all material respects.  In addition, the financial statements and supplemental information contained herein represent the financial information for the Debtors only. The Company’s non-debtor entities are not included in the financial statements supplemental information contained herein.

 

Note 2                                    The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purposes of complying with the monthly reporting requirements of the Bankruptcy Court and the United States Trustee. The unaudited financial statements have been derived from the  books and records of the Debtors. The information presented herein has not been subject to all procedures that would typically be applied to financial information presented in accordance with U.S. GAAP. Upon the application of such procedures, the Debtors believe that the financial information could be subject to changes, and these changes could be material. The information furnished in this Monthly Operating Report includes normal recurring adjustments, but does not include all of the adjustments that would typically be made for interim financial statement in accordance with U.S. GAAP.

 

Note 3                                    The results of operations contained herein are not necessarily indicative of results that are expected from any other period or for the full year and may not necessarily reflect the combined results of operations, financial position and cash flows of the Debtors in the future.

 



 

CASE NAME:                     AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:               17-30461

 

COMPARATIVE BALANCE SHEETS(1)

 

 

 

FILING DATE

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

ASSETS

 

Jan-30

 

February

 

March

 

April

 

May

 

June

 

CURRENT ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash(2)

 

$

5,413,201.06

 

$

5,991,889.00

 

 

 

 

 

 

 

 

 

Accounts Receivable, Net(3)

 

5,444,372.32

 

5,434,479.04

 

 

 

 

 

 

 

 

 

Inventory: Lower of Cost or Market

 

 

 

 

 

 

 

 

 

 

 

Prepaid Expenses

 

3,669,288.96

 

3,335,279.68

 

 

 

 

 

 

 

 

 

Investments

 

 

 

 

 

 

 

 

 

 

 

Other(4)

 

 

57,795.00

 

 

 

 

 

 

 

 

 

TOTAL CURRENT ASSETS

 

$

14,526,862.34

 

$

14,819,442.72

 

$

 

$

 

$

 

$

 

PROPERTY, PLANT & EQUIP. @ COST

 

$

230,699,357.23

 

$

212,495,900.53

 

 

 

 

 

 

 

 

 

Less Accumulated Depreciation

 

(36,837,029.25

)

(19,031,218.30

)

 

 

 

 

 

 

 

 

NET BOOK VALUE OF PP&E

 

$

193,862,327.98

 

$

193,464,682.23

 

$

 

$

 

$

 

$

 

OTHER ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Tax Deposits

 

 

 

 

 

 

 

 

 

 

 

2. Investments in Subsidiaries

 

 

 

 

 

 

 

 

 

 

 

3. LT Prepaid Insurance

 

254,476.42

 

247,796.36

 

 

 

 

 

 

 

 

 

4. LT Deferred Tax Assets - State(5)

 

 

936,770.00

 

 

 

 

 

 

 

 

 

5. Unamortized Loan Costs / Other

 

1,203,118.11

 

349,792.05

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

$

209,846,784.85

 

$

209,818,483.36

 

$

 

$

 

$

 

$

 

 


Notes

(1) The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to further adjustment.

(2) Balance per books.

(3) Includes accrued revenue and allowance for doubtful accounts.

(4) Represents utility adequate assurance deposit.

(5) Non-cash asset; liability balance at Filing Date.

 

MOR-2

 

Revised 07/01/98

 


 


 

CASE NAME:                     AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:               17-30461

 

COMPARATIVE BALANCE SHEETS(1)

 

LIABILITIES & OWNERS’

 

FILING DATE

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

EQUITY

 

Jan-30

 

February

 

March

 

April

 

May

 

June

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

POST-PETITION LIABILITIES(MOR-4)

 

$

 

$

6,008,467.39

 

 

 

 

 

 

 

 

 

PRE-PETITION LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes Payable - Secured

 

$

 

$

 

 

 

 

 

 

 

 

 

Priority Debt(2)

 

180,772,509.29

 

178,671,729.06

 

 

 

 

 

 

 

 

 

Federal Income Tax

 

 

 

 

 

 

 

 

 

 

 

FICA/Withholding

 

 

 

 

 

 

 

 

 

 

 

Unsecured Debt(2)

 

490,363.90

 

251,523.30

 

 

 

 

 

 

 

 

 

Other(3)

 

1,729,994.70

 

2,092,891.27

 

 

 

 

 

 

 

 

 

TOTAL PRE-PETITION LIABILITIES

 

182,992,867.89

 

181,016,143.63

 

 

 

 

 

TOTAL LIABILITIES

 

$

182,992,867.89

 

$

187,024,611.02

 

$

 

$

 

$

 

$

 

OWNER’S EQUITY (DEFICIT)

 

 

 

 

 

 

 

 

 

 

 

 

 

PREFERRED STOCK

 

$

 

$

 

 

 

 

 

 

 

 

 

COMMON STOCK

 

514,295,050.62

 

514,295,050.62

 

 

 

 

 

 

 

 

 

ADDITIONAL PAID-IN CAPITAL

 

 

 

 

 

 

 

 

 

 

 

RETAINED EARNINGS: Filing Date

 

(487,441,133.66

)

(487,441,133.66

)

 

 

 

 

 

 

 

 

RETAINED EARNINGS: Post Filing Date

 

 

(4,060,044.62

)

 

 

 

 

 

 

 

 

TOTAL OWNER’S EQUITY (NET WORTH)

 

$

26,853,916.96

 

$

22,793,872.34

 

$

 

$

 

$

 

$

 

TOTAL LIABILITIES & OWNERS EQUITY

 

$

209,846,784.85

 

$

209,818,483.36

 

$

 

$

 

$

 

$

 

 


Notes

(1) The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to further adjustment.

(2) See Exhibit E for payments granted under first day relief.

(3) Non-cash liabilities and system-generated intercompany balances.

 

MOR-3

 

Revised 07/01/98

 


 

CASE NAME:                     AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:               17-30461

 

SCHEDULE OF POST-PETITION LIABILITIES

 

 

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

 

 

Jan-30-Feb-28

 

March

 

April

 

May

 

June

 

TRADE ACCOUNTS PAYABLE

 

$

395,729.44

 

 

 

 

 

 

 

 

 

TAX PAYABLE

 

 

 

 

 

 

 

 

 

 

 

Federal Payroll Taxes

 

$

 

 

 

 

 

 

 

 

 

State Payroll Taxes

 

 

 

 

 

 

 

 

 

 

Ad Valorem Taxes

 

 

 

 

 

 

 

 

 

 

Other Taxes

 

2,732.31

 

 

 

 

 

 

 

 

 

TOTAL TAXES PAYABLE

 

$

2,732.31

 

$

 

$

 

$

 

$

 

SECURED DEBT POST-PETITION

 

 

 

 

 

 

 

 

 

 

ACCRUED INTEREST PAYABLE

 

 

 

 

 

 

 

 

 

 

ACCRUED PROFESSIONAL FEES(1)

 

2,779,350.00

 

 

 

 

 

 

 

 

 

OTHER ACCRUED LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

1. Accrued Gas Purchases

 

1,097,907.86

 

 

 

 

 

 

 

 

 

2. Accrued Cashouts Payable

 

880,680.55

 

 

 

 

 

 

 

 

 

3. Other Accrued Expenses

 

852,067.23

 

 

 

 

 

 

 

 

 

TOTAL POST-PETITION LIABILITIES (MOR-3)

 

$

6,008,467.39

 

$

 

$

 

$

 

$

 

 


Notes

(1) See Exhibit B for additional details.

 

MOR-4

 

Revised 07/01/98

 



 

CASE NAME:                                                                AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

AGING OF POST-PETITION LIABILITIES

Month: Feb-17

 

 

 

 

 

TRADE

 

FEDERAL

 

STATE

 

AD VALOREM,

 

 

 

DAYS

 

TOTAL

 

ACCOUNTS

 

TAXES

 

TAXES

 

OTHER TAXES

 

ACCRUED LIABILITIES(1)

 

0-30

 

$

5,975,473.40

 

$

362,735.45

 

$

 

$

 

$

2,732.31

 

$

5,610,005.64

 

31-60

 

32,993.99

 

32,993.99

 

 

 

 

 

61-90

 

 

 

 

 

 

 

91+

 

 

 

 

 

 

 

TOTAL

 

$

6,008,467.39

 

$

395,729.44

 

$

 

$

 

$

2,732.31

 

$

5,610,005.64

 

 


Notes

(1) Professional fees, gas purchases, producer cash out, and 2017 accrued ad valorem taxes due in 2018.

 

AGING OF ACCOUNTS RECEIVABLE(2)

 

DAYS

 

February

 

March

 

April

 

May

 

June

 

June

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0-30

 

$

2,348,031.10

 

 

 

 

 

 

 

 

 

 

 

31-60

 

194,789.26

 

 

 

 

 

 

 

 

 

 

 

61-90

 

45,658.70

 

 

 

 

 

 

 

 

 

 

 

91+

 

380,128.35

 

 

 

 

 

 

 

 

 

 

 

TOTAL

 

$

2,968,607.41

 

$

 

$

 

$

 

$

 

$

 

 


Notes

(2) Excludes accrued revenue ($2.7m) and allowance for doubtful accounts (-$0.3k).

 

MOR-5

Revised 07/01/98

 



 

CASE NAME:                                                                AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

STATEMENT OF INCOME (LOSS)(1)

 

 

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

FILING TO

 

 

 

Jan-30-Feb-28

 

March

 

April

 

May

 

June

 

DATE

 

REVENUES (MOR-1)

 

$

3,199,478.14

 

 

 

 

 

 

 

 

 

$

3,199,478.14

 

TOTAL COST OF REVENUES

 

2,290,357.28

 

 

 

 

 

 

 

 

 

2,290,357.28

 

GROSS PROFIT

 

$

909,120.86

 

$

 

$

 

$

 

$

 

$

909,120.86

 

OPERATING EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling & Marketing

 

$

 

 

 

 

 

 

 

 

 

$

 

General & Administrative(2)

 

974,426.19

 

 

 

 

 

 

 

 

 

974,426.19

 

Insiders Compensation

 

 

 

 

 

 

 

 

 

 

 

Professional Fees(3)

 

2,779,350.00

 

 

 

 

 

 

 

 

 

2,779,350.00

 

Other

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

TOTAL OPERATING EXPENSES

 

$

3,753,776.19

 

$

 

$

 

$

 

$

 

$

3,753,776.19

 

INCOME BEFORE INT, DEPR/TAX (MOR-1)

 

$

(2,844,655.33

)

$

 

$

 

$

 

$

 

$

(2,844,655.33

)

INTEREST EXPENSE

 

599,634.53

 

 

 

 

 

 

 

 

 

599,634.53

 

DEPRECIATION

 

615,754.76

 

 

 

 

 

 

 

 

 

615,754.76

 

OTHER (INCOME) EXPENSE

 

 

 

 

 

 

 

 

 

 

 

OTHER ITEMS

 

 

 

 

 

 

 

 

 

 

 

TOTAL INT, DEPR & OTHER ITEMS

 

1,215,389.29

 

 

 

 

 

1,215,389.29

 

NET INCOME BEFORE TAXES

 

$

(4,060,044.62

)

$

 

$

 

$

 

$

 

$

(4,060,044.62

)

FEDERAL INCOME TAXES

 

 

 

 

 

 

 

 

 

 

 

NET INCOME (LOSS) (MOR-1)

 

$

(4,060,044.62

)

$

 

$

 

$

 

$

 

$

(4,060,044.62

)

 


Notes

(1) The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to further adjustment.

(2) General & Administrative Costs (“G&A”) are primarily comprised of labor costs, insurance costs, and ordinary course professional fees associated with Debtors’ corporate affairs.

(3) Restructuring related professional fees.

 

MOR-6

Revised 07/01/98

 



 

CASE NAME:                                                                AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

CASH RECEIPTS AND

 

Per

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

FILING TO

 

DISBURSEMENTS

 

Projection

 

Jan-30-Feb-28

 

March

 

April

 

May

 

June

 

DATE

 

1.

CASH-BEGINNING OF MONTH(1)

 

$

5,413,201.06

 

$

5,413,201.06

 

$

5,991,889.00

 

$

5,991,889.00

 

$

5,991,889.00

 

$

5,991,889.00

 

$

5,413,201.06

 

RECEIPTS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

CASH SALES

 

$

 

$

 

 

 

 

 

 

 

 

 

$

 

3.

COLLECTION OF ACCOUNTS RECEIVABLE

 

2,730,716.07

 

2,725,469.13

 

 

 

 

 

 

 

 

 

5,456,185.20

 

4.

LOANS & ADVANCES (attach list)

 

 

 

 

 

 

 

 

 

 

 

 

5.

SALE OF ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

6.

OTHER(2)

 

 

848,559.60

 

 

 

 

 

 

 

 

 

848,559.60

 

TOTAL RECEIPTS

 

$

2,730,716.07

 

$

3,574,028.73

 

$

 

$

 

$

 

$

 

$

6,304,744.80

 

(Withdrawal) Contribution by Individual Debtor MFR-2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DISBURSEMENTS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7.

NET PAYROLL

 

$

 

$

 

 

 

 

 

 

 

 

 

$

 

8.

PAYROLL TAXES PAID

 

 

 

 

 

 

 

 

 

 

 

 

9.

SALES, USE & OTHER TAXES PAID

 

 

 

 

 

 

 

 

 

 

 

 

10.

SECURED/RENTAL/LEASES

 

 

 

 

 

 

 

 

 

 

 

 

11.

UTILITIES & TELEPHONE

 

 

 

 

 

 

 

 

 

 

 

 

12.

INSURANCE

 

 

 

 

 

 

 

 

 

 

 

 

13.

INVENTORY PURCHASES

 

 

 

 

 

 

 

 

 

 

 

 

14.

VEHICLE EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

15.

TRAVEL & ENTERTAINMENT

 

 

 

 

 

 

 

 

 

 

 

 

16.

REPAIRS, MAINTENANCE & SUPPLIES

 

 

 

 

 

 

 

 

 

 

 

 

17.

ADMINISTRATIVE & SELLING

 

 

 

 

 

 

 

 

 

 

 

 

18.

OTHER(2)

 

(2,711,690.86

)

(2,937,545.79

)

 

 

 

 

 

 

 

 

(5,649,236.65

)

TOTAL DISBURSEMENTS FROM OPERATIONS

 

$

(2,711,690.86

)

$

(2,937,545.79

)

$

 

$

 

$

 

$

 

$

(5,649,236.65

)

19.

PROFESSIONAL FEES

 

$

 

$

 

 

 

 

 

 

 

 

 

$

 

20.

U.S. TRUSTEE FEES

 

 

 

 

 

 

 

 

 

 

 

 

21.

OTHER REORGANIZATION EXPENSES(2)

 

(2,055,000.00

)

(57,795.00

)

 

 

 

 

 

 

 

 

(2,112,795.00

)

TOTAL DISBURSEMENTS(3)

 

$

(4,766,690.86

)

$

(2,995,340.79

)

$

 

$

 

$

 

$

 

$

(7,762,031.65

)

22.

NET CASH FLOW

 

$

(2,035,974.79

)

$

578,687.94

 

$

 

$

 

$

 

$

 

$

(1,457,286.85

)

23.

CASH - END OF MONTH (MOR-2)

 

$

3,377,226.27

 

$

5,991,889.00

 

$

5,991,889.00

 

$

5,991,889.00

 

$

5,991,889.00

 

$

5,991,889.00

 

$

3,955,914.21

 

 


Notes

(1) Balances per books.

(2) See Exhibit C for additional details.

(3) See Exhibit D for intra-debtor disbursements not captured on this schedule.

 

MOR-7

Revised 07/01/98

 



 

CASE NAME:                                                                AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

CASH ACCOUNT RECONCILIATION

Month: Feb-17

 

BANK NAME

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

 

 

ACCOUNT NUMBER

 

#6079

 

#5543

 

#5576

 

#5592

 

#5832

 

#5857

 

#6087

 

 

 

ACCOUNT TYPE

 

CONCENTRATION

 

DEPOSITORY (ZBA)

 

DEPOSITORY (ZBA)

 

DEPOSITORY (ZBA)

 

DEPOSITORY (ZBA)

 

DEPOSITORY (ZBA)

 

DISBURSEMENT (ZBA)

 

Subtotal

 

BANK BALANCE

 

$

6,055,016.87

 

$

 

$

 

$

 

$

 

$

 

$

 

$

6,055,016.87

 

DEPOSITS IN TRANSIT

 

 

 

 

 

 

 

 

 

OUTSTANDING CHECKS

 

 

 

 

 

 

 

(16,355.00

)

(16,355.00

)

ADJUSTED BANK BALANCE

 

$

6,055,016.87

 

$

 

$

 

$

 

$

 

$

 

$

(16,355.00

)

$

6,038,661.87

 

BEGINNING CASH - PER BOOKS

 

$

6,090,534.52

 

$

 

$

 

$

 

$

 

$

 

$

(8,734.98

)

$

6,081,799.54

 

RECEIPTS

 

475,991.75

 

224,751.61

 

680,266.90

 

1,190,913.28

 

153,545.59

 

 

 

2,725,469.13

 

TRANSFERS BETWEEN ACCOUNTS(1)

 

(504,692.89

)

(224,751.61

)

(680,266.90

)

(1,190,913.28

)

(153,545.59

)

 

469,477.68

 

(2,284,692.59

)

(WITHDRAWAL) OR INDIVIDUAL CONTRIBUTION BY DEBTOR MFR-2

 

 

 

 

 

 

 

 

 

CHECKS/OTHER DISBURSEMENTS

 

(6,816.51

)

 

 

 

 

 

(477,097.70

)

(483,914.21

)

ENDING CASH - PER BOOKS

 

$

6,055,016.87

 

$

 

$

 

$

 

$

 

$

 

$

(16,355.00

)

$

6,038,661.87

 

 

BANK NAME

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

CHASE

 

 

 

 

 

ACCOUNT NUMBER

 

#5584

 

#5339

 

#5840

 

#5865

 

#5550

 

#9517

 

 

 

 

 

ACCOUNT TYPE

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(Payroll)

 

Subtotal

 

Grand Total

 

BANK BALANCE

 

$

 

$

 

$

 

$

 

$

 

$

 

$

 

$

6,055,016.87

 

DEPOSITS IN TRANSIT

 

 

 

 

 

 

 

 

 

OUTSTANDING CHECKS

 

(5,921.22

)

(18,737.87

)

(15,273.22

)

(584.86

)

(6,255.70

)

 

(46,772.87

)

(63,127.87

)

ADJUSTED BANK BALANCE

 

$

(5,921.22

)

$

(18,737.87

)

$

(15,273.22

)

$

(584.86

)

$

(6,255.70

)

$

 

$

(46,772.87

)

$

5,991,889.00

 

BEGINNING CASH - PER BOOKS

 

$

(102,877.65

)

$

(170,354.88

)

$

(344,937.53

)

$

(37,252.01

)

$

(13,176.41

)

$

 

$

(668,598.48

)

$

5,413,201.06

 

RECEIPTS

 

 

 

 

 

 

848,559.60

 

848,559.60

 

3,574,028.73

 

TRANSFERS BETWEEN ACCOUNTS(1)

 

524,308.29

 

784,005.27

 

834,363.77

 

122,345.68

 

19,669.58

 

 

2,284,692.59

 

 

(WITHDRAWAL) OR INDIVIDUAL

 

 

 

 

 

 

 

 

 

CHECKS/OTHER DISBURSEMENTS

 

(427,351.86

)

(632,388.26

)

(504,699.46

)

(85,678.53

)

(12,748.87

)

(848,559.60

)

(2,511,426.58

)

(2,995,340.79

)

ENDING CASH - PER BOOKS

 

$

(5,921.22

)

$

(18,737.87

)

$

(15,273.22

)

$

(584.86

)

$

(6,255.70

)

$

 

$

(46,772.87

)

$

5,991,889.00

 

 


Notes

(1) See Exhibit D.

 

MOR-8

Revised 07/01/98

 



 

CASE NAME:                                                                AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

PAYMENTS TO INSIDERS AND PROFESSIONALS

 

Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals. Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.)  (Attach additional pages as necessary).

 

 

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

INSIDERS: NAME/COMP TYPE

 

Jan-30-Feb-28

 

March

 

April

 

May

 

June

 

June

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Amanda Bush (salary and benefits)

 

$

7,620.99

 

 

 

 

 

 

 

 

 

 

 

2. David Garrett (salary and benefits)

 

8,216.22

 

 

 

 

 

 

 

 

 

 

 

3. Iris Berthelot II (salary and benefits)

 

12,280.35

 

 

 

 

 

 

 

 

 

 

 

4. James H. Lytal

 

 

 

 

 

 

 

 

 

 

 

 

5. Mark Mulhern

 

 

 

 

 

 

 

 

 

 

 

 

6. Stanley Overstreet (salary and benefits)

 

5,537.08

 

 

 

 

 

 

 

 

 

 

 

7. Thomas R. Fuller

 

 

 

 

 

 

 

 

 

 

 

 

8. Victor Davis (salary and benefits)

 

5,929.88

 

 

 

 

 

 

 

 

 

 

 

9. Roy E. Bertolatus (salary and benefits)

 

7,181.91

 

 

 

 

 

 

 

 

 

 

 

TOTAL INSIDERS (MOR-1)

 

$

46,766.43

 

$

 

$

 

$

 

$

 

$

 

 

 

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

MONTH

 

PROFESSIONALS

 

Jan-30-Feb-28

 

March

 

April

 

May

 

June

 

June

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

 

 

 

 

 

 

 

 

 

 

 

 

 

3.

 

 

 

 

 

 

 

 

 

 

 

 

 

4.

 

 

 

 

 

 

 

 

 

 

 

 

 

5.

 

 

 

 

 

 

 

 

 

 

 

 

 

6.

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL PROFESSIONALS (MOR-1)

 

$

 

$

 

$

 

$

 

$

 

$

 

 

MOR-9

Revised 07/01/98

 



 

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

Exhibit A - CONSOLIDATING DISBURSEMENTS OF JOINTLY ADMINISTERED CASES IN CHAPTER 11

 

CASE NAME:                                                                AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

 

 

 

 

DISBURSEMENTS

 

Entity

 

Case No.

 

Jan-30-Feb-28

 

March

 

April

 

May

 

June

 

June

 

Filing to Date

 

Azure ETG, LLC

 

17-30470

 

$

1,107,618.76

 

 

 

 

 

 

 

 

 

 

 

 

 

Azure Holdings GP, LLC

 

17-30469

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Azure Midstream Partners GP, LLC

 

17-30464

 

848,559.60

 

 

 

 

 

 

 

 

 

 

 

 

 

Azure Midstream Partners LP, LLC

 

17-30461

 

3,238,084.48

 

 

 

 

 

 

 

 

 

 

 

 

 

Azure TGG, LLC

 

17-30471

 

237,500.48

 

 

 

 

 

 

 

 

 

 

 

 

 

Marlin G&P I, LLC

 

17-30467

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marlin Logistics, LLC

 

17-30466

 

85,678.53

 

 

 

 

 

 

 

 

 

 

 

 

 

Marlin Midstream Finance Corporation

 

17-30472

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marlin Midstream, LLC

 

17-30465

 

658,245.05

 

 

 

 

 

 

 

 

 

 

 

 

 

Murvaul Gas Gathering, LLC

 

17-30473

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Talco Midstream Assets, Ltd.

 

17-30474

 

1,823,301.54

 

 

 

 

 

 

 

 

 

 

 

 

 

Turkey Creek Pipeline, LLC

 

17-30475

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Disbursements (same as MOR-1 disbursements)(1)

 

 

 

$

7,998,988.44

 

$

 

$

 

$

 

$

 

$

 

$

 

 


Notes

(1) Includes intra-Debtor bank transfers between Debtors’ bank accounts.

 

Exhibit A

 



 

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

Exhibit B - ACCRUED POST-PETITION PROFESSIONAL FEES

 

CASE NAME:                                                              AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

Professional

 

Role

 

Jan-30-Feb-28

 

March

 

April

 

May

 

June

 

June

 

Filing to Date

 

Alvarez & Marsal

 

Debtors’ Restructuring Advisor

 

$

645,750.00

 

 

 

 

 

 

 

 

 

 

 

$

645,750.00

 

Baker McKenzie

 

Secured Lenders’ Counsel

 

393,750.00

 

 

 

 

 

 

 

 

 

 

 

393,750.00

 

Deloitte Transactions & Business Analytics LLP

 

Debtors’ Tax Advisor

 

78,750.00

 

 

 

 

 

 

 

 

 

 

 

78,750.00

 

Evercore Partners

 

Debtors’ Financial Advisor

 

 

 

 

 

 

 

 

 

 

 

 

 

KPMG LLP

 

Debtors’ Auditor

 

115,500.00

 

 

 

 

 

 

 

 

 

 

 

115,500.00

 

Kurtzman Carson Consultants LLC

 

Debtors’ Claims Agent

 

78,750.00

 

 

 

 

 

 

 

 

 

 

 

78,750.00

 

RPA Advisors

 

Secured Lenders’ Financial Advisor

 

315,000.00

 

 

 

 

 

 

 

 

 

 

 

315,000.00

 

Vinson & Elkins LLP

 

Debtors’ Legal Counsel

 

315,000.00

 

 

 

 

 

 

 

 

 

 

 

315,000.00

 

Weil Gotshal

 

Debtors’ Legal Counsel

 

836,850.00

 

 

 

 

 

 

 

 

 

 

 

836,850.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Accrued Professional Fees

 

 

 

$

2,779,350.00

 

$

0

 

$

0

 

$

0

 

$

0

 

$

0

 

$

2,779,350

 

 

Exhibit B

 



 

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

Exhibit C - BUDGET VARIANCE ANALYSIS(1)

 

CASE NAME:                                                                AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

 

 

Jan-30 - Feb-28

 

 

 

$ in Actual

 

Budget

 

Actual

 

Variance

 

Beginning Cash(2)

 

$

5,413,201.06

 

$

5,413,201.06

 

$

 

 

 

 

 

 

 

 

 

Net Receipts

 

$

1,577,763.88

 

$

1,589,122.17

 

$

11,358.29

 

 

 

 

 

 

 

 

 

Operating Disbursements

 

 

 

 

 

 

 

Operating Disbursements

 

$

(399,301.94

)

$

(231,536.54

)

$

167,765.40

 

Omnibus Disbursements

 

(502,831.07

)

(367,000.00

)

135,831.07

 

Corporate G&A Disbursements

 

(134,834.08

)

(30,971.51

)

103,862.57

 

Tax Disbursements

 

(39,390.97

)

(47,006.50

)

(7,615.53

)

Total Operating Disbursements

 

$

(1,076,358.05

)

$

(676,514.55

)

$

399,843.50

 

 

 

 

 

 

 

 

 

Capital Expenditures

 

(482,380.62

)

(276,124.68

)

206,255.94

 

Restructuring Adjustments

 

(2,055,000.00

)

(57,795.00

)

1,997,205.00

 

Restructuring Professional Fees

 

 

 

 

Net Cash Flow

 

$

(2,035,974.79

)

$

578,687.94

 

$

2,614,662.73

 

Ending Cash Balance

 

$

3,377,226.27

 

$

5,991,889.00

 

$

2,614,662.73

 

 


Notes

(1) Budget based on final cash collateral order (Docket 128).

(2) Balance per books.

 

Exhibit C

 



 

CASE NAME:                                                 AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                               17-30461

 

Exhibit D Intra-Debtor Transfers

 

BANK NAME

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

 

 

ACCOUNT NUMBER

 

#6079

 

#5543

 

#5576

 

#5592

 

#5832

 

#5857

 

#6087

 

 

 

ACCOUNT TYPE

 

CONCENTRATION

 

DEPOSITORY (ZBA)

 

DEPOSITORY (ZBA)

 

DEPOSITORY (ZBA)

 

DEPOSITORY (ZBA)

 

DEPOSITORY (ZBA)

 

DISBURSEMENT (ZBA)

 

Subtotal

 

TRANSFERS IN

 

$

2,249,477.38

 

$

 

$

 

$

 

$

 

$

 

$

469,477.68

 

$

2,718,955.06

 

TRANSFERS OUT

 

(2,754,170.27

)

(224,751.61

)

(680,266.90

)

(1,190,913.28

)

(153,545.59

)

 

 

(5,003,647.65

)

TOTAL TRANSFERS

 

$

(504,692.89

)

$

(224,751.61

)

$

(680,266.90

)

$

(1,190,913.28

)

$

(153,545.59

)

$

 

$

469,477.68

 

$

(2,284,692.59

)

 

BANK NAME

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

WELLS FARGO

 

Chase

 

 

 

 

 

ACCOUNT NUMBER

 

#5584

 

#5339

 

#5840

 

#5865

 

#5550

 

#9517

 

 

 

 

 

ACCOUNT TYPE

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(ZBA)

 

DISBURSEMENT(Payroll)

 

Subtotal

 

Grand Total

 

TRANSFERS IN

 

$

524,308.29

 

$

784,005.27

 

$

834,363.77

 

$

122,345.68

 

$

19,669.58

 

$

 

$

2,284,692.59

 

$

5,003,647.65

 

TRANSFERS OUT

 

 

 

 

 

 

 

 

(5,003,647.65

)

TOTAL TRANSFERS

 

$

524,308.29

 

$

784,005.27

 

$

834,363.77

 

$

122,345.68

 

$

19,669.58

 

$

 

$

2,284,692.59

 

$

 

 

Exhibit D

 



 

UNITED STATES BANKRUPTCY COURT

SOUTHERN DISTRICT OF TEXAS

HOUSTON DIVISION

Exhibit E - FIRST DAY RELIEF PAYMENTS

 

CASE NAME:                                                              AZURE MIDSTREAM PARTNERS, LP, et. al.

CASE NUMBER:                                              17-30461

 

$ in Actual

 

Total Relief

 

Jan-30 - Feb-28
Payments(1)

 

Remaining Relief

 

All Trade

 

$

3,571,000.00

 

$

(2,354,228.11

)

$

1,216,771.89

 

Taxes

 

4,250,000.00

 

(47,283.50

)

$

4,202,716.50

 

Total

 

$

7,821,000.00

 

$

(2,401,511.61

)

$

5,419,488.39

 

 


Notes

(1) Book basis.

 

Exhibit E