News

  • Latest Samson News

    • TULSA, Okla., May 9, 2018 — Samson Resources II, LLC (“Samson”) announced today that it has executed an agreement to divest a portion of its position in Converse County, WY to an undisclosed buyer in exchange for cash consideration of $44.4 million and the receipt by Samson of 15,000 net acres (all subject to customary adjustments). The acreage to be received by Samson under the transaction will include all depths below the Fort Union formation, is currently undedicated and will bolt-on to Samson’s core acreage position in Johnson County, WY. In exchange, Samson has agreed to sell approximately 7,000 net Continue Reading

    • TULSA, Okla., April 16, 2018 — Samson Resources II, LLC (“Samson” or the “Company”) announced today that the borrowing base under its senior secured revolving credit agreement has been reaffirmed by its lender group in the amount of $106.5 Million following its regularly scheduled redetermination process.  No other material changes were made to the terms or conditions under the credit facility during the process. Joseph Mills, President and CEO of the Company stated, “We want to thank our lender group for the support they have shown the Company, and we are very pleased with the results of the redetermination process.  Continue Reading

    • TULSA, Okla., April 16, 2018  — Samson Resources II, LLC (“Samson” or the “Company”) announced today that Josh C. Anders has joined the Company as its Chief Financial Officer.  Mr. Anders comes to Samson with over 20 years of experience in the oil and gas industry, most recently as Chief Financial Officer and Executive Vice President of Adams Resources & Energy, Inc.  Previously, he served as Vice President and Controller at Southwestern Energy Company; Vice President and Treasurer for Beryl Oil and Gas, LP and Corporate Finance Manager at Pogo Producing Company. Joseph Mills, President and Chief Executive Officer of Continue Reading

    • TULSA, Okla., Jan. 4, 2018 — Samson Resources II, LLC (“Samson” or the “Company”) announced today that its board of directors has approved a 2018 total capital budget in the range of $105 to $115 MM.  The capital program is designed to enhance shareholder value by growing 2018 production volumes by approximately 20 percent as compared to 2017 exit production rates and advancing the delineation and development of the company’s core assets while maintaining a positive net cash position.  The Company anticipates spending $85 to $95 MM toward its drilling and completion program and approximately $20 MM toward its leasing, Continue Reading

    • TULSA, Okla., Dec. 14, 2017  — Samson Resources II, LLC (“Samson” or the “Company”) announced today that it has executed an agreement to divest all of its Wamsutter assets, located in Carbon and Sweetwater Counties of Wyoming, which are considered non-core to the Company’s portfolio.  The Wamsutter assets were sold for a total cash purchase price of $34.0 MM to an undisclosed buyer.  The effective date of the transaction will be January 1, 2018, and closing is expected to occur prior to January 15, 2018. The Wamsutter assets currently produce approximately 9.0 MMcfe/day, net to Samson’s interest, from a total of 106 Continue Reading

    • TULSA, Okla., Nov. 1, 2017  — Samson Resources II, LLC (“Samson” or the “Company”) announced today that it has entered into an Amended and Restated Senior Secured Revolving Credit Agreement (“Senior Credit Facility”) with JPMorgan Chase Bank, N.A., as Administrative Agent and Joint Lead Arranger, along with Capital One, N.A., and ING Capital, LLC, as Joint Lead Arrangers.  The Senior Credit Facility is a $500 million Revolving Credit agreement with an initial borrowing base limit of $120 million.  It has a three-year term and will expire in October 2020. Samson also announced that it has executed a binding agreement to acquire Continue Reading

    • Tulsa, OK., September 29, 2017 – Samson Resources II, LLC (“Samson” or the “Company”) announced today that it has successfully closed the sale of its East Texas and North Louisiana assets to an affiliate of Rockcliff Energy II LLC (“Rockcliff Energy”), a privately held company headquartered in Houston, Texas. The final consideration paid to Samson for the assets totaled approximately $504,000,000, after giving effect to contractual purchase price adjustments to the $525,000,000 purchase price announced on August 1, 2017. As previously disclosed, Samson will repay approximately $214,000,000 in outstanding borrowings under its Senior Credit Facility. In addition, the Board of Continue Reading

    • Tulsa, OK., September 11, 2017 – Samson Resources II, LLC’s (“Samson” or the “Company”) Board of Directors has approved the Company’s commencement of a drilling program to drill five operated wells on the Company’s Fort Union property located in Sweetwater County, Wyoming, as well as an accelerated permitting program in the Powder River Basin of Wyoming. The drilling program at the Fort Union property will entail using two rigs to drill five operated wells in the Fort Union formation, a liquids rich gas formation, with expected results of 3.7 Bcfe per well (45% liquids expected) at a cost of $2.9 Continue Reading

    •   TULSA, Okla., August 1, 2017 — The Board of Directors of Samson Resources II, LLC (“Samson” or the “Company”) has approved the sale of the Company’s assets in East Texas and North Louisiana for a cash purchase price of $525.0 MM, subject to customary purchase price adjustments, to an affiliate of Rockcliff Energy II LLC (“Rockcliff Energy”), a privately held company headquartered in Houston, Texas. The sale is expected to close on September 29, 2017, with an effective date of August 1, 2017. As previously disclosed, on May 8, 2017, Samson announced that it engaged investment banks Jefferies LLC Continue Reading

    • TULSA, Okla., May 8, 2017 /PRNewswire/ — Samson Resources II, LLC (“Samson” or the “Company”) announced today that following a strategic review of the Company’s core competencies and underlying reserve and production potential conducted by Jefferies LLC and Houlihan Lokey Capital, Inc., the Company has decided to market for sale its assets in East Texas and North Louisiana through a broad marketing process to be conducted by Jefferies and Houlihan Lokey.  Samson owns approximately 210,000 net acres (which excludes its fee minerals and other small non-operated working interests) in the East Texas and North Louisiana areas with an 86% working interest Continue Reading