Samson Resources $4 billion Chapter 11 restructuring

Overview:

• Samson Resources has emerged from Chapter 11 bankruptcy after reducing its debt by $4 billion. 
• As part of the restructuring, Samson sold off a number of assets, including oil and gas assets located in Williston, San Juan and Permian Basins. 
• Samson's remaining assets were transferred to Samson Resources II, and the majority of Samson II's equity was distributed to Samson's second lien lenders.
• Deutsche Bank Trust Company Americas acted as administrative agent for the lenders in connection with a $1 billion second lien term loan credit agreement provided to Samson. 
• Investor KKR acted as reorganisation sponsor. 
• The oil and gas company first filed for Chapter 11 in September 2015. 

Kurt Stumpo - Journalist