Continuing low natural gas prices forced Tulsa-based Samson Resources Corp. to file an amendment to the Chapter 11 bankruptcy plan it filed last fall. Company management says the new plan will allow the firm to operate on a go-forward basis with significantly less long-term debt and lower annual interest payments.
The company blamed the decline in gas prices after it filed last September in U.S. Bankruptcy Court for the District of Delaware.
This allows a new start, according to a story in the Tulsa World.