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 in the leasehold, the vast majority of which the Company operates. Samson will be accepting offers on the assets marketed as a whole and as four separate sub-packages; specifically, North Louisiana, Shelby Trough, East Texas Haynesville and Gregg-Rusk-Nacogdoches. The Data Room for interested parties who execute a confidentiality agreement will open in late May 2017.
Samson emerged from Chapter 11 bankruptcy on March 1, 2017 with an improved financial position after discharging approximately $4 billion in debt. The Company also owns significant acreage in the Powder River and Greater Green River basins of Wyoming, which it intends to hold and develop.
For additional information regarding the marketing process, please contact Geoff Angulo at Jefferies at 281-774-2130 or email@example.com.
In this press release, all statements that are not purely historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “project,” plan,” “estimate,” intend,” “potential” and other similar expressions. Forward-looking statements are based on currently available business, economic, financial and other information and reflect management’s current beliefs, expectations and views with respect to future developments and their potential effects on Samson II. Actual results could vary materially depending on risks and uncertainties that may affect Samson II and its business. Samson II’s actual actions and results may differ materially from what is expressed or implied by these statements due to a variety of factors, including (a) the ability of Samson II to perform well and compete effectively upon its emergence from bankruptcy, (b) the impact of restrictions in Samson II’s exit financing on its ability to make capital investments and pursue strategic growth opportunities, (c) the ability of Samson II to continue to attract and retain qualified employees following emergence, and (d) other risks and uncertainties as disclosed by Samson II in the future. Samson II assumes no obligation to update any forward-looking statement made in this press release to reflect subsequent events or circumstances or actual outcomes.
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SOURCE Samson Resources II, LLC