KKR’s Samson Said Planning for Bankruptcy as Soon as Aug. 15

Samson Resources Corp. is close to entering an agreement with its lenders that will put the energy company into bankruptcy court as soon as Aug. 15, according to two people with knowledge of the matter.

The company is talking with loan holders led by Silver Point Capital LP and Cerberus Capital Management LP to iron out details on a proposal that would give the company a loan of about $300 million to fund operations during Chapter 11 proceedings, said one of the people, who asked not to be identified because the negotiations are private. Lenders would gain control of the gas producer from investors led by KKR & Co., that person said.