On September 16, 2015, Samson Resources Corp. (“Samson” or “Debtor”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware in Wilmington [Case No. 15-11934].According to the declaration of Philip Cook (the “Cook Declaration”)— that was filed in conjunction with the Debtor’s first day pleadings— Samson is a privately held onshore oil and gas exploration and production company with operations and royalty or working interests in approximately 8,700 oil and gas production sites primarily located in Colorado, Louisiana, North Dakota, Oklahoma, Texas and Wyoming. The Debtors plan to use the Chapter 11 process to reduce its $4.2 billion debt: $2.25 of which is to unsecured noteholders. See Cook Declaration at 10, 20.Samson has entered into a Restructuring Support Agreement with over 68 percent of the second lien lenders, which seeks to effectuate a debt-for-equity conversion and rights offering. See Cook Declaration at 32.In the Interim Order Authorizing Use of Cash Collateral and Granting Adequate Protection to Prepetition Secured Parties (“Interim Order”) issued on September 18th, the presiding U.S. Bankruptcy Judge Christopher Sontchi permitted the postpetition use of Cash Collateral, consisting of cash, rents, income, offspring products, proceeds and profits for continued business operations as delineated in the Debtor’s Interim Budget. This excludes funds solely held for Working Interest Holders or Mineral Payees. The right to use of cash collateral terminates on the earliest of (i) 45 days after the interim order was entered if a final order has not been entered; (ii) January 15, 2016, or (iii) five business days after written notice is given of certain failure of the Debtors as stated in the Interim Order. See Interim Order at 23.The final hearing for this motion and the other first-day motions filed is scheduled for October 14, 2015.A copy of the Cook Declaration and Restructured Support Agreement can be accessed here: Download Samson- Cook DeclarationA copy of the Interim Order can be assessed here: Download Samson Interim Order For further information, please contact a Thompson & Knight Bankruptcy and Restructuring Attorney.For more information on the Thompson & Knight’s Bankruptcy and Restructuring Practice, please visit www.tklaw.com/bankruptcy-and-restructuring/.