Tulsa, Oklahoma-based Samson has struggled to find a path out of its year-old bankruptcy due to weak energy prices and drawn-out battles with junior unsecured creditors.
Under the restructuring support agreement, sketched out in a Friday filing with the US Bankruptcy Court in Wilmington, Delaware, a senior bank facility of $942 million will be repaid in full. The reorganised Samson will exit bankruptcy owned by holders of the company's $1 billion second-lien loan, in return for reducing what those creditors are owed.
Holders
