Deals Rumor Mill: Samsom, NY Daily News, Banco BPI
By Benjamin Horney ( February 27, 2015, 3:59 PM EST) -- Private equity-backed oil and natural gas company Samson Resources Co. is in the midst of a messy restructuring, according to a Thursday evening report from The New York Times. According to the report, Samson, which is owned by KKR & Co. LP, has tasked the restructuring teams of Kirkland & Ellis LLP and Blackstone Group with helping advise how to handle "mounting losses" and a "large amount of debt." KKR bought Samson for $7.2 billion in 2011, and the company has been struggling recently due to the declining prices of natural gas and oil. According to the report, Kirkland and Blackstone may recommend that Samson, which has about $3.8 billion in long-term debt, look into asset sales or a broader restructuring....
Law360 is on it, so you are, too.
A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.