Samson Resources Emerges From Bankruptcy

TULSA, Okla., March 1, 2017  — Samson Resources Corporation  (“SRC”) announced today that the Company and its subsidiaries have emerged from Chapter 11 bankruptcy protection, after satisfying all of the conditions required under its Plan of Reorganization (the “Plan”), which was confirmed by the U.S. Bankruptcy Court for the District of Delaware on February 13, 2017.  Under the Plan, substantially all of SRC’s remaining assets, including its subsidiaries, were transferred to Samson Resources II, LLC (“Samson II” or the “Company”).  The majority of the equity in Samson II was distributed to SRC’s second lien lenders, both on account of their claims in the bankruptcy and in connection with a $60 million rights offering. In addition, Joseph A. Mills has been officially appointed by the new Board of Directors as Samson II’s President and Chief Executive Officer, succeeding Andrew Kidd, who accepted the position in February 2016, having previously served as General Counsel.