Interesting view of US Upstream Oil Sector, page-6

Samson Resources Files for Bankruptcy Amid Oil Slump

Plan would give equity to junior lenders, including Silver Point, Cerberus and Anschutz, in return for $1 billion debt forgiveness
By
Stephanie Gleason and
Matt Jarzemsky
Updated Sept. 17, 2015 3:29 p.m. ET

KKR & Co.’s Samson Resources Corp. filed for chapter 11 bankruptcy protection Wednesday with a plan to restructure its business and wipe more than $3.25 billion in debt from its books.

Yes - those who borrowed beyond their means are now falling by wayside. Without replacing production decay, SSN's loan is looking menacing. As someone said...."testing times".

MS