Seitel, Inc.
Young Conaway serves as co-counsel to Ranch Capital and Berkshire Hathaway. Seitel is one of the largest seismic databases in North America, offering a library for license to over 400 customers which are domestic and international oil and gas exploration and production companies. Ranch Capital purchased in excess of $280 million of notes in the debtor for approximately $190 million and was the plan sponsor under the debtor's proposed chapter 11 plan of reorganization. In response to that plan, the equity committee formed in Seitel's chapter 11 cases filed and confirmed a plan that proposes the payment of the full amount of the notes to Ranch Capital with interest, costs and fees.