samson resources sale

In a company release, the privately held E&P said it agreed to sell all of its Powder River Basin assets to an undisclosed buyer for $215 million in an all-cash transaction. The effective date of the sale was July 1, 2019. When this sale closes, it will conclude the four-year process of monetizing Samson’s assets and delivering a strong cash return to our equity owners following our emergence from bankruptcy in March 2017.”. TULSA, Okla., March 4, 2021 /PRNewswire/ -- Samson Resources II, LLC ("Samson" or the "Company") announced today that it has successfully closed the previously announced sale of … 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. Samson Resources II president and CEO Joseph A Mills said: “We are very pleased to announce the sale of our Powder River Basin assets. This week, Judge Christopher Sontchi with the U.S. Bankruptcy Court for the District of Delaware okayed the sales of Samson resources in Oklahoma, North Dakota, New Mexico and Texas. Joseph A. Willkie Farr & Gallagher LLP acted as legal counsel to Samson. Prices for top E&P stocks and commodities. Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. Samson Resources II has agreed to sell a portion of its position in Converse County, Wyoming to an undisclosed buyer. Samson Resources II, LLC Agrees to Sell Its Powder River Basin Assets for $215 Million. Samson Resources serves customers in the State of Oklahoma. Following this closing, the Company has successfully divested substantially all of its upstream assets. Following the sale of the Company’s Powder River Basin assets to Continental Resources, Inc., the Company has successfully divested all of its upstream oil and gas assets. 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. PRESS RELEASE PR Newswire . In December 2011, Samson Investment Company was acquired by a group of private equity investors for approximately $7.2 billion and Samson Resources Corporation was formed. KKR & Co , which led the acquisition of oil and gas producer Samson Resources Corp for $7.2 billion in 2011 and has already sold almost … The sale will be in exchange for cash consideration of $44.4m and the receipt by Samson of 15,000 net acres (all subject to customary adjustments). Hear this industry veteran discuss his optimistic mindset plus how he thinks the oil and gas business will need to adapt to face the future. The Company explores, develops, and produces oil and natural gas. Mills, President and CEO of the Company stated, “We are very pleased to announce the sale of our Powder River Basin assets. Following the closing, the Company, which was started by Charles Schusterman in 1971, will begin the process of winding down its affairs and moving toward final dissolution. Jefferies LLC is Samson’s exclusive financial advisor and led the marketing process for the Powder River basin assets. The company said its assets in the Powder River Basin produced 8,500 barrels of oil equivalent a day and will be the last of the upstream assets to be divested by Samson Resources, In a company release, the privately held E&P said it agreed to sell all of its Powder River Basin assets to an undisclosed buyer for … The Company’s only remaining upstream oil and gas assets will 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 anticipates divesting in early 2021. After the sale, its only remaining assets consist of about 24,000 acres under lease, about 23,000 acres of mineral rights and 40 non-operated wells all located in east Texas, Oklahoma and Louisiana. Following the closing, the Company will have divested substantially all of its upstream assets. A Premier Exploration And Production Company. 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 … Rextag database of energy infrastructure assets. Following closing, expected in early March, Samson Resources II LLC will have divested substantially all of its upstream assets and will begin the process of winding down its affairs and moving toward final dissolution. TULSA, Okla., March 4, 2021 /PRNewswire/ -- 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. The acquisition of Chorus Logistics enables W Energy Software customers to manage their transportation needs across any mode—pipeline, truck, rail, vessel or barge—through a best-in-class transportation management system. In 2011, Samson Resources Corp., then Samson Investment Co., drew a $7.2 billion bid from private equity investors led by Kohlberg Kravis Roberts & Co. LP (KKR). Following this closing, the Company has successfully divested substantially all of its upstream assets. Samson Resources II, LLC Agrees to Sell Its Powder River Basin Assets for $215 Million. Samson is selling it Williston assets to Resource Energy Can-Am LLC for $75 million. Jan. 4, 2021, 08:00 AM. Samson Resources II, LLC Announces Sale of Non-core Assets in Converse County, Wyoming for $44.4 Million in Cash plus 15,000 Net Acres in … Connecting upstream production to the downstream sector and putting midstream in the center of it all. © 2021 Hart Energy. The details of the distribution are expected to be announced in early March 2021. Tulsa-based Samson Resources II LLC has sold some of its noncore assets in the Powder River Basin (PRB) of Wyoming, one of two primary target areas for … Samson, based in Tulsa, Okla., now finds itself with $4.9 billion in liabilities and nearly a billion dollars in debt due in 2016. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Samson Resources Plans to Dissolve Business Following Powder River Sale, Meritorious Awards for Engineering Innovation (MEAs), Cold Bore Sees Demand Soar for Autonomous Completions Platform SmartPAD in Q1, W Energy Software Acquires Chorus Logistics, Adding Transportation Management System, Baker Hughes Wins Subsea Contract for Petrobras’ Marlim, Voador Fields in Brazil. Samson to Initiate a Strategic Review of the Company's Powder River Basin Assets. October 22, 2020. After nearly a half a century in business, Samson Resources has announced it plans to wind down the Tulsa, Okla.-based company. According to its website, Samson Resources holds the seventh largest acreage position in the Powder River Basin with about 132,000 net acres. All rights reserved. SAMSON RESOURCES CORPORATION, et al. Samson Resources Corp, one of the largest energy companies to seek bankruptcy in the current commodities slump, reached a new agreement with creditors that … The latest technologies, technical solutions and strategies in Exploration, Drilling, Production and more. Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma. Mills, president and CEO of Samson Resources, said in a statement commenting on the Powder River transaction: “When this sale closes, it will conclude the four-year process of monetizing Samson's assets and delivering a strong cash return to our equity owners following our emergence from bankruptcy in March 2017.”. Samson Resources II, LLC Agrees to Sell Its Powder River Basin Assets for $215 Million January 4, 2021 GMT TULSA, Okla., Jan. 4, 2021 /PRNewswire/ -- Samson Resources II, LLC (“Samson” or the “Company”) announced today that it has entered into a definitive agreement under which Samson will sell all of its Powder River Basin assets to an undisclosed buyer for $215 million in … Information on assets, buyers and sellers, deal values, and more. 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… She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters. “When this sale closes, it will conclude the four-year process of monetising Samson’s assets and delivering a strong cash return to our equity owners following our emergence from bankruptcy in March 2017.” 15-11934 (CSS) ) Debtors. ) Following the sale of its Powder River Basin asset to an undisclosed buyer, Samson Resources said it will begin the process of winding down its affairs and moving toward final dissolution.