Other contributors to this thread discovered Contango is the wholly owned subsidiary of Crescent Energy, Crescent Energy and Contango is managed by KKR Energy Real Assets and KKR&Co has controlling interest in Crescent Energy. Unfortunately KKR has been here before, having bought Samson Resources in 2011 for $7 billion with private equity money, bonds and loans. By 2015 Samson is bankrupt. Billions of dollars lost, hundreds of jobs gone, but luckily KKR escaped unscathed. Samson was small compared to the $48 billion TX electric co KKR bankrupted in 2014, BTW, the $48 billion was all borrowed money, so KKR again did not suffer monetary losses. Running up debt, then walking away leaving stockholders, banks, investors and creditors holding the bag is a business model that has served KKR well. They’ve burned billions in other peoples dollars…so of course the millions of dollars in unpaid revenue that belongs to Oklahoma royalty owners is of little to no concern to a company like KKR, and will no doubt remain unpaid unless we can address through liens, litigation or both. Lisa
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