If at first you don’t succeed, swap sides. Kohlberg Kravis Roberts’s most famous bet on natural-gas prices, 2007′s $45 billion takeover of Texan utility TXU, bombed. Now KKR is buying the gas producers instead. It is a better strategy—mainly because it isn’t a straight bet on gas prices.
KKR, Crestview Partners and others are buying closely held Samson Investment Co. for $7.2 billion just in time for Thanksgiving. It is the latest in a string of forays into the sector by KKR. It paid $325 million for roughly …
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