Tulsa, Okla., March 4, 2021 – Samson Resources II, LLC (“Samson” or the “Company”) announced today that it has successfully closed the previously announced sale of its Powder River Basin assets to Continental Resources, Inc.
Following this closing, the Company has successfully divested substantially all of its upstream assets. The Company’s only remaining upstream oil and gas assets consist of approximately 24,000 net leasehold acres, 23,000 net mineral acres and 40 non-operated wells, all located in East Texas, Oklahoma and Louisiana, which the Company is currently marketing for sale and anticipates divesting in Q2 2021.
The Company, which was started by Charles Schusterman in 1971, is beginning the process of winding down its affairs and moving toward final dissolution. Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma.