Samson Resources emerges from bankruptcy

The Oklahoma-based Samson Resources Corporation has emerged from bankruptcy and discharged its $4 billion in debt, the company announced on Wednesday.

The company has restructured, and has transferred nearly all of its remaining assets and subsidiaries to a new company, Samson Resources II, LLC. Samson Resources, an oil and gas production and exploration company that works in East Texas, declared bankruptcy in September 2015. The new company will also be based in Tulsa.

Samson was part a waive of oil and gas companies that declared bankruptcy in the wake of plunging oil prices in 2015. KKR & Co. had taken Samson private for $7.2 billion in 2011.