Le Lézard
Classified in: Oil industry, Business
Subjects: TNM, DIV

Samson Resources II, LLC Announces the Sale of its Greater Green River Basin Assets and Certain Non-Core Johnson County Powder River Basin Assets and the Payment of a Special Distribution


TULSA, Okla., Sept. 30, 2019 /PRNewswire/ -- Samson Resources II, LLC ("Samson" or the "Company") announced today that it has successfully closed the sale of its Greater Green River basin assets to an undisclosed buyer. The effective date of the sale was July 1, 2019. The Company also closed on the sale of 8,500 non-core acres in Johnson County, Wyoming to another undisclosed buyer. The Johnson County acreage had no associated production. 

The sale proceeds will be used for general corporate purposes and for the payment of a distribution totaling $46.0M ($2.00 / Class A Unit) (the "Special Distribution") to be paid on November 20, 2019 to unitholders of record as of the close of business on November 1, 2019. Investors can access additional information about the Special Distribution on the Samson Investor Relations website. 

Joseph A. Mills, President and CEO of the Company stated, "We are very pleased to announce the closing of the sale of our Greater Green River basin assets, certain non-core Powder River Basin assets and the payment of a Special Distribution to our Investors.  With the sale of the Greater Green River basin assets, Samson is now a pure play E&P operator focused exclusively on the Powder River Basin ("PRB") of Wyoming with over 154,000 net acres. Samson remains committed to executing its business plan and to the continued development of its extensive PRB assets. With our recent strong drilling results in the PRB, the Board of Directors has decided to explore strategic alternatives for the Company's Powder River Basin assets, consistent with the strategy the company has pursued since emerging from bankruptcy in 2017. While conducting our strategic alternative review for these assets the Company remains committed to drilling safely and efficiently." 

Jefferies LLC is the Company's financial advisor and led the marketing process of the Greater Green River basin asset and will lead the strategic review process of the Company's Powder River Basin assets.

There is no assurance that the evaluation of Strategic Alternatives 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 154,000 net acres in the Powder River basin in Wyoming.  For more information, please visit our website at www.samson.com

SOURCE Samson Resources II, LLC


These press releases may also interest you

at 16:30
Peabody today filed its Proxy Statement for its 2024 Annual Meeting of Stockholders to be held on May 9, 2024, which disclosed that current members of Peabody's Board of Directors Samantha B. Algaze and David J. Miller have determined that they will...

at 16:15
Quanta Services, Inc. announced today that its Board of Directors has declared a quarterly cash dividend to stockholders of $0.09 per share, or a rate of $0.36 per share on an annualized basis. The dividend is payable on April 17, 2024, to...

at 16:15
ONEOK, Inc. will release first quarter 2024 earnings after the market closes on April 30, 2024. ONEOK's executive management will participate in a conference call the following day.      What:              ONEOK first quarter 2024 earnings...

at 16:08
Company successfully executed and closed $150 million tax exempt bond offering for the Company's Kentucky Lithium refining facilityThe first domestic, commercial producer of separated and high-purity REEs from recycled permanent magnets and...

at 16:05
Emeren Group Ltd ("Emeren" or the "Company") (www.emeren.com) , a leading global solar project developer, owner, and operator, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023. Emeren's...

at 16:05
Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") will release its 2024 first quarter operating and condensed financial results on Wednesday, May 1, 2024 after the close of North American markets. The unaudited interim...



News published on and distributed by: