Tulsa, Oklahoma, May 1, 2019 – Samson Resources II, LLC (“Samson” or the “Company”) announced today that the Board of Directors of the Company has approved the marketing of the Company’s Johnson County, Wyoming assets through EnergyNet, as part of its previously announced strategic alternatives review. Samson owns approximately 47,000 net acres in Johnson County with a 75% working interest in the leasehold.
Joseph A. Mills, President and CEO of the Company stated, “Samson continues to focus on its core positions in the Powder River and Greater Green River basins. The Company’s March 2019 production exceeded 10,500 boe/day (64% liquids) and is expected to continue to increase through the rest of 2019. A sale of our Johnson County assets will assist the Company in executing on its 2019 capital plan while maintaining its very strong financial and liquidity position.”
Samson will be accepting offers on the Johnson County, Wyoming assets marketed as a whole. The Data Room for interested parties who execute a confidentiality agreement will open in mid-May 2019. Parties interested in the assets should contact EnergyNet.
Jefferies LLC is advising the Company on its ongoing strategic alternatives review process.
There is no assurance that the marketing of assets will lead to a transaction. The Company does not intend to disclose or comment on developments related to the process unless the Company has determined that further disclosure is appropriate or required by law.
Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma. The Company holds approximately 208,000 net acres in the Powder River and Greater Green River basins in Wyoming. For more information, please visit our website at www.samson.com.