Samson Resources Proposes Amended Chapter 11

samsonrsources

Tulsa-based Samson Resources was scheduled to be in court Thursday as part of an amended Chapter 11 bankruptcy plan with creditors. It came more than a year after the oil and gas producer filed a $4 billion bankruptcy.

The latest hearing was part of a proposed global settlement with the company’s first-lien lenders.

At the time of the bankruptcy filing, Samson said it would use the Chapter 11 process to shrink its $4.2 billion debt load. It also admitted it had as many as 10,000 creditors but planned to continue with operations.

Samson was under the leadership at the time of Chief Executive Officer Randy Limbacher, but he resigned a few months after the bankruptcy filing.

 

%d bloggers like this: