The Finnish Defense Industry: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
- Published: June 2012
- Region: Finland
The ratings on Samson reflect its significant exposure to very weak natural gas prices, aggressive debt leverage, and its weak profitability metrics. Ratings also reflect the company's relative size and scale, a favorable cost structure, and sizeable resource acreage positions. Samson is owned by private equity firms Kohlberg Kravis Roberts (KKR), Natural Gas Partners, Crestview Partners, and Itochu Corp. Private equity ownership raises the risk, in our view, that Samson could adopt a more aggressive drilling program, adding meaningfully to current debt, to grow reserves and production before their stake is monetized. Standard & Poor's Ratings Services classifies Samson's business risk as "weak" (as our criteria define the term), primarily reflecting its significant exposure to natural gas, which constituted 87%...
Companies mentioned in this report are: Samson Resources Corp
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Samson Resources Corp