Tulsa-based Samson Resources II LLC reported 30-day initial production of 2,339 boe/d (97% oil) from the Spearhead (Federal 11-2635 4075) well in the Shannon formation in Converse County, WY, within the Powder River Basin. With about 145,000 net acres in the PRB, the board is considering expanding its delineation program. An operating budget is be finalized late in 1Q2019.
Articles from Samson
Tulsa-based Samson Resources II LLC has sold some of its noncore assets in the Powder River Basin (PRB) of Wyoming, one of two primary target areas for the company’s exploration and production (E&P) activity, to an undisclosed buyer for $44.4 million and the receipt of 15,000 net acres.
Tulsa-based Samson Resources II LLC is accelerating its drilling plans in Wyoming, with five wells underway in Sweetwater County and a ramp-up planned next year in the Powder River Basin.
Rockcliff Energy LLC said Monday it has acquired approximately 60,000 net acres in East Texas prospective to the Haynesville Shale from an undisclosed seller.
Five months after emerging from bankruptcy, Samson Resources II LLC has agreed to sell its assets in East Texas and North Louisiana to an affiliate of Rockcliff Energy II for $525 million, and it plans to focus on developing its remaining assets in Wyoming’s Green River and Powder River basins.
Samson Resources II LLC is offering for sale its assets in East Texas and North Louisiana through a process to be conducted by Jefferies and Houlihan Lokey. Samson owns 210,000 net acres (which excludes its fee minerals and other small nonoperated working interests) with an 86% working interest in the leasehold, most of which it operates. Samson will accept offers on the assets marketed as a whole and as four separate sub-packages; specifically: North Louisiana, Shelby Trough, East Texas Haynesville and Gregg-Rusk-Nacogdoches. The data room is to open in late May. For information contact Geoff Angulo at Jefferies, (281) 774-2130, or email@example.com. Tulsa-based Samson emerged from Chapter 11 bankruptcy on March 1 after discharging $4 billion in debt. The company also owns acreage in the Powder River and Greater Green River basins of Wyoming, which it said it intends to hold and develop.
Texas Senate lawmakers on Tuesday approved HB 1818, legislation that reauthorizes the Railroad Commission of Texas (RRC), the state’s primary oil and natural gas regulator, until 2029. House lawmakers approved the measure in March. The bill does not change the name of the commission — as many have recommended over the years — and makes relatively modest changes to its operations. The oil and natural gas industry had supported the bill. Texas Independent Producers & Royalty Owners President Ed Longanecker testified in support of the bill in the House. HB 1818 is now on its way to Gov. Greg Abbott.
Resource Energy Can-Am LLC has closed its previously announced agreement to acquire assets in the Bakken Shale in North Dakota and Montana from Chapter 11 bankruptcy reorganized Tulsa-based Samson Resources Co. for $75 million.
Financially troubled Samson Resources Corp. has made a restructuring pact that will cut debt and bring at least $450 million of new capital into the company as it prepares for a Chapter 11 filing, the Tulsa-based producer said late Friday.