Constellation Energy Partners LLC (NYSE: CEP) announced Dec. 12 that the trial in the PostRock Litigation has been rescheduled to Jan. 13 through Jan. 15 in Wilmington, Delaware.
In September, PostRock Energy Corp.'s (Nasdaq: PSTR) wholly owned subsidiary along with former class A managers of CEP filed a complaint against the company, certain executives and managers, and other related parties in relation to its acquisition assets in Texas and Louisiana from Sanchez Energy Partners I LP that happened in August.
Houston's Constellation thinks that the allegations contained in the lawsuit are without merit and intends to vigorously defend itself against the claims raised in the complaint. In conjunction with its defense in the PostRock Litigation, the company anticipates that it will incur legal and other costs that may have a material effect on available cash which could impact the company’s ability to make distributions.
The trial was originally scheduled for Dec. 16 through Dec. 18. For additional information concerning the PostRock Litigation, visit the company’s website.
Constellation Energy Partners LLC is a limited liability company focused on the acquisition, development and production of oil and natural gas properties, as well as related midstream assets. The company is based in Houston.