Samson Resources Corp. said that it reached a restructuring deal with its senior lenders and plans to file for bankruptcy within 30 days, Bloomberg News reported on Saturday. The Tulsa, Oklahoma-based gas producer, majority owned by private equity firm KKR & Co., will skip about $110 million of an interest payment due Aug. 17 and enter a 30-day grace period to try to build a broader support for the plan, Samson said on Friday. Lenders of Samson’s second-lien term loan led by Silver Point Capital LP, Cerberus Capital Management LP and Anschutz Investment Co. will take control of the company. The group, which represents about 45.5 percent of the holders of its $1 billion term loan, will provide as much as $485 million to support operations and pay down first-lien debt, the company said. The plan also includes a rights offering that will be backstopped by the same group.
