Samson Resources Corp.'s interim chief executive and chief operating officer will resign next month, continuing a wave of leadership departures at the bankrupt oil and gas producer, Dow Jones Newswires reported yesterday. Richard Fraley, who took on the job of interim CEO in addition to his COO duties following last month's resignation of CEO Randy Limbacher, will depart on Feb. 15, according to a Monday filing in Samson's chapter 11 case. Three vice presidents have also announced their resignation, court papers say, and the attrition rate of Samson's general workforce "has significantly accelerated since the end of 2015." Read more.
Listen to a podcast featuring Deborah D. Williamson, a co-author of ABI's When Gushers Go Dry: The Essentials of Oil & Gas Bankruptcy, discussing current distress in the oil and gas industry, and providing an outlook for 2016.
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Be sure to attend ABI’s Annual Spring Meeting in Washington, D.C., from April 14-17, as a panel of experts will further addressing bankruptcies in the oil industry. Register here.
