Samson

Randy L. Limbacher, former chairman, CEO and president of Rosetta Resources Inc., is taking the helm of Tulsa onshore operator Samson Resources Corp. Limbacher, who has 32 years in the exploration business, ran Rosetta from November 2007 until the end of February. He previously was president of exploration and production in the Americas for ConocoPhillips and worked at predecessor Burlington Resources Inc. for 20 years.

Continental Resources Inc. announced Wednesday that its proved reserves have nearly doubled, driven primarily by strong production growth in North Dakota and Montana’s portions of the Bakken Shale, and part from a legacy play in south-central Oklahoma.

Kohlberg Kravis Roberts & Co. LP (KKR) and affiliates have agreed to pay $306 million to acquire Barnett Shale and Arkoma Basin properties from WPX Energy.

On the heels of a legislative session that failed to pass any Marcellus Shale development measures, two Maryland lawmakers are seeking an independent review of their state’s regulatory framework.

Clayton Williams Energy Inc., an independent headquartered in Midland, TX, has closed the sale of oil and gas assets in three East Texas fields to Samson Lone Star Ltd. Partnership. The assets were purchased in 1998 from Sonat Exploration Co. for approximately $46.5 million. Clayton Williams owned 10% of the assets and a subsidiary was general partner for a limited partnership with an affiliate of GE Capital Oil & Gas, which owned the remaining 90%. Under the limited partnership agreement, Clayton Williams’ general partnership interest increased to 35% from 1% after the limited partner received a pre-agreed rate of return. Clayton Williams plans to use the net proceeds from the sale, estimated to be $15.8 million, to reduce its outstanding bank debt and for general corporate purposes. The company also expects to report a third quarter gain of about $10.5 million on the transaction.

Abraxas Petroleum Corp. said last week it has sold $34 millionin Wyoming gas assets to Samson Resources Co., a private Tulsa,OK-based oil and gas firm. The assets were held by Abraxas’subsidiary, Abraxas Wamsutter L.P.

Nuevo Energy Co. agreed to sell its East Texas gas assets for$190.6 million to an affiliate of Samson Resources Co. The EastTexas assets accounted for about 275 Bcfe of Nuevo’s Jan. 1 provedreserves. The properties are long-lived reserves located mainly inthe Oak Hill Field and interests in the Carthage, SE Carthage andChapel Hill fields, as well as small interests and royaltyinterests in additional East Texas fields.