The U.S. Department of the Interior filed an objection on Monday to the plan that Samson Resources’ creditors have proposed for the company, the Tulsa (Okla.) World reported today. The federal government’s objection was filed in respect to the disclosure statement for the joint chapter 11 plan for Samson Resources and its debtor affiliates. Among the Interior Department’s objections is the failure to disclose which wells could be abandoned under the plan and how the plan intends to address Samson’s decommissioning and environmental obligations. The plan states that Samson’s hydrocarbon interests “shall be divested, sold, or otherwise disposed of at the sole discretion of the Plan Administrator” or “abandoned on the effective date.” The Department of the Interior’s objection states that without this specific information, creditors cannot determine how their claims might be affected and lack the facts necessary to weigh the unsecured creditors’ committee’s plan against its alternatives.
