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YUMA ENERGY: Hires Getzler Henrich as Financial Advisor

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The Official Committee of Unsecured Creditors of Yuma Energy, Inc., and its debtor-affiliates seeks authorization from the U.S. Bankruptcy Court for the Northern District of Texas to retain Getzler Henrich & Associates LLC as financial advisor to the Committee.

The Committee requires Getzler Henrich to:

a. review and assess the Debtors’ key oil and gas assets and associated liabilities;

b. monitor field and in-house operations and obligations to sustain the Debtors’ oil and gas assets until sold through the Debtors Bankruptcy process, the required operations, lease maintenance, royalty/tax/LOE obligations, operating bonds, well insurance, regulatory compliance, etc.;

c. review and evaluate the viability of data room materials, bid process, bids and bidders for the Debtors’ assets;

d. provide assistance to identify potential additional bidders;

e. assist as to the current and ongoing financial status of the Debtors and the financial sufficiency and structure of bids received;

f. participate in any asset auction process with the goal of maximizing sales proceeds to the bankrupt estate;

g. assist with discussions and interactions with the Debtors management and relevant corporate and other stakeholders;

h. assist in the preparation of analysis required to assess any proposed Debtor-In-Possession (“DIP”) financing;

i. assist in the review of financial related disclosures required by the Court, including the Debtors’ Schedules of Assets and Liabilities, Statement of Financial Affairs and Monthly Operating Reports;

j. assist with the review of any retention programs and other employee benefit programs;

k. assist with the review of the Debtors’ long-term financial projections, including cash generating capacity and identification of potential cost savings, including overhead and operating expense reductions and efficiency improvements;

l. assist with the review of the Debtors’ cost/benefit analysis with respect to the assumption or rejection of various executory contracts and leases;

m. assist with the review of the Debtors’ corporate structure including analysis of intercompany activities and claims;

n. assist with the review of any tax issues associated with, but not limited to, claims/stock trading, preservation of net operating losses, refunds due to the Debtors, plans of reorganization, and asset sales;

o. assist in the review of the claims reconciliation and estimation process;

p. attend at meetings and assistance in discussions with the Debtors, potential investors, banks, other secured lenders, the Committee and any other official or unofficial committees organized in these chapter 11 proceedings, the U.S. Trustee, other parties in interest and
professionals hired by the same, as requested;

q. assist in the review and/or preparation of information and analysis necessary for the confirmation of a plan and related disclosure statement in these chapter 11 proceedings;

k. assist in the evaluation and analysis of avoidance actions, including fraudulent conveyances and preferential transfers;

l. assist in the prosecution of Committee responses/objections to the Debtors’ motions, including attendance at depositions and provision of expert reports/testimony on case issues as required by the Committee; and

m. render such other general business consulting or such other assistance as the Committee or its counsel may deem necessary that are consistent with the role of a financial advisor and not duplicative of services provided by other professionals in this proceeding.

Getzler Henrich will be paid at these hourly rates:

Jay D. Haber, Principal Consultant $800
Director $600
Senior Associate $500

Getzler Henrich will also be reimbursed for reasonable out-of-pocket expenses incurred.

Jay D. Haber, principal of Getzler Henrich & Associates LLC, assured the Court that the firm is a “disinterested person” as the term is defined in Section 101(14) of the Bankruptcy Code and (a) is not creditors, equity security holders or insiders of the Debtors; (b) has not been, within two years before the date of the filing of the Debtors’ chapter 11 petition, directors, officers or employees of the Debtors; and (c) does not have an interest materially adverse to the interest of the estate or of any class of creditors or equity security holders, by reason of any direct or indirect relationship to, connection with, or interest in, the Debtors, or for any other reason.

Getzler Henrich can be reached at:

Jay D. Haber
GETZLER HENRICH & ASSOCIATES LLC
295 Madison Avenue, 20th Floor
New York, NY 10017
Tel: (212) 697-2400
Fax: (212) 697-4812

About Yuma Energy

Yuma Energy, Inc. is an independent Houston-based exploration and production company. The Company is focused on the acquisition, development, and exploration for conventional and unconventional oil and natural gas resources, primarily in the U.S. Gulf Coast, the Permian Basin of West Texas and California. The Company has employed a 3-D seismic-based strategy to build a multi-year inventory of development and exploration prospects. Its current operations are focused on onshore properties located in southern Louisiana, southeastern Texas and recently, in the Permian basin of West Texas. In addition, the Company has non-operated positions in the East Texas Eagle Ford and Woodbine, and operated positions in Kern County in California.

Yuma Energy and three of its affiliates filed for bankruptcy protection on April 15, 2020 (Bankr. N.D. Tex. Lead Case No. 20-41455). The petitions were signed by Anthony C. Schnur, CRO.

As of Dec. 31, 2019, Yuma posted $32,290,329 in total assets and $28,270,794 in total liabilities.

The Debtors tapped Fisher Broyles LLP as their legal counsel; Seaport Gordian Energy LLC as their investment banker; Ankura Consulting Group LLC as their financial advisor; and Stretto as their administrative advisor.

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