Southland Royalty Company LLC – NGL Commodity Prices, Slashed Credit Facility Borrowing Headroom and Onerous Contracts Force Upstream Energy Company to Seek Chapter 11 Shelter

January 27, 2020 − Privately-held Southland Royalty Company LLC  (“Southland” or the “Debtor”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 20-10158. The Debtor, an independent upstream energy company headquartered in Fort Worth, is represented by M. Blake Cleary of Young Conaway Stargatt & Taylor,…