Sep
16
KKR’s Samson Resources Files Bankruptcy as Shale Bet Sours
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KKR took over Samson in $7.2 billion leveraged buyout in 2011
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Another Kravis-backed energy bet sours in commodity rout
Oil and gas driller Samson Resources Corp. filed for bankruptcy in Delaware Wednesday night, undone by a collapse in energy prices and billions in debt that KKR & Co. and other investors piled on to fund a 2011 takeover.
Tulsa, Oklahoma-based Samson and its owners were stung by the price drop that put money into the pockets of consumers through lower gasoline and heating costs, while driving other producers, such as Sabine Oil & Gas Corp. and Quicksilver Resources Inc., into Chapter 11. Samson’s filing is among the biggest energy bankruptcies in the U.S. this year, but it probably won’t be the last…
KKR’s Samson Resources Files Bankruptcy as Shale Bet Sours
