Samson Resources Corp. is close to entering an agreement with its lenders that will put the energy company into bankruptcy court as soon as Aug. 15, Bloomberg News reported yesterday. The company is talking with loan holders led by Silver Point Capital LP and Cerberus Capital Management LP to iron out details on a proposal that would give the company a loan of about $300 million to fund operations during chapter 11 proceedings. Lenders would gain control of the gas producer from investors led by KKR & Co. If a restructuring plan isn’t complete by Aug. 15, when a $110 million interest payment comes due on its bonds, the company will skip the payment and continue talks during a 30-day grace period.
