<p style="line-height: 18.9091px;">Kohlberg Kravis Roberts learned that lesson the hard way after falling commodity prices doomed two of its biggest investments: the multibillion-dollar buyouts of power producer TXU Corp and oil explorer Samson Resources Corp. <span style="line-height: 18.9091px;">Now, the private equity firm is backing away from debt-fuelled takeovers of energy companies, which are vulnerable to unpredictable moves in oil and gas prices. The firm instead is focusing on smaller drilling deals that are usually funded with less debt and are better able to survive swoons.</span></p>