Privately held Samson Resources has acquired approximately 33,000 gross acres / 10,500 net acres plus working interests in 30 wells (29 operated by Samson) in the company’s core operating area of Sweetwater County, Wyoming. Samson acquired the acreage and wells from a non-operating working interest partner for a total consideration of $15.9 million.
This follows a busy 2017, where they emerged from bankruptcy and positioned themselves to focus production in Wyoming by selling its East Texas/ North Louisiana assets for $525 million. Samson’s acquisition is a part of its delineation drilling program in both the Powder River and Green River Basins.
Samson in this effort also hopes to prove that larger fracs (10 stages and 1 million pounds of sand) will improve results and recoveries from the Fort Union sand interval. The acquired wells produce approximately 450 net barrels of oil equivalent per day and the effective date of the transaction is April 1, 2018.
Samson Resources Operating Basins; Source: Samson Resources
Tulsa-based Samson Resources II LLC is a presenting company at the upcoming EnerCom The Oil & Gas Conference® which is being held at the Denver Downtown Westin Hotel Aug. 19-23, 2018.
To register online for the region’s largest independent oil and gas investment conference please visit http://www.theoilandgasconference.com/ .
