(Source: Hart Energy). 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. 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 … According to its website, Samson Resources holds the seventh largest acreage position in the Powder River Basin with about 132,000 net acres. 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. © 2021 Hart Energy. 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. Samson Resources Corp. has begun marketing its oil-and-gas assets, fulfilling a part of its reorganization plan in the months following its emergence from bankruptcy protection. Samson Resources II, LLC Jan 04, 2021, 08:00 ET. The Company explores, develops, and produces oil and natural gas. Samson Resources II, LLC Agrees to Sell Its Powder River Basin Assets for $215 Million. In a press release, Samson Resources II, LLC announced the signing of an agreement to sell all of its Powder River Basin assets to an undisclosed buyer for a total cash consideration of $215 million. After nearly a half a century in business, Samson Resources has announced it plans to wind down the Tulsa, Okla.-based company. On May 9, Willkie client Samson Resources Company agreed to sell a portion of its position in Converse County, WY consisting of 7,000 net acres, interests in 17 wells and overriding royalty interests to an undisclosed buyer in exchange for cash consideration of $44.4 million and the receipt by Samson of 15,000 net acres (subject to customary adjustments). Samson Resources II has agreed to sell a portion of its position in Converse County, Wyoming to an undisclosed buyer. Prices for top E&P stocks and commodities. The Company exited 2020 producing approximately 8,500 barrels […] Tulsa, Okla., January 4, 2021 – 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 an all-cash transaction. 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 … The sale is expected to close on or around March 4, 2021 and will have a January 1, 2021 effective date. Jan. 4, 2021, 08:00 AM. A searchable database of oil and gas debt and equity offerings. News. 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. Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma. 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. 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. Samson, based in Tulsa, Okla., now finds itself with $4.9 billion in liabilities and nearly a billion dollars in debt due in 2016. A Premier Exploration And Production Company. 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. 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.”. Mills, President and CEO of the Company stated, “We are very pleased to announce the sale of our Powder River Basin 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. For more information, please visit our website at www.samson.com. 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, LLC Announces Sale of Non-core Assets in Converse County, Wyoming for $44.4 Million in Cash plus 15,000 Net Acres in … 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. With the severe downturn in oil and natural gas prices, in September 2015, the Company went into Chapter 11 bankruptcy and during its bankruptcy process, sold several large assets. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Tulsa, OK., September 30, 2019 – 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. Following this closing, the Company has successfully divested substantially all of its upstream assets. The Company exited 2020 producing approximately 8,500 barrels of oil equivalent per day (75% oil) from the Powder River Basin. Jefferies LLC is Samson’s exclusive financial advisor and led the marketing process for the Powder River basin assets. 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. 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. Samson Resources II president and CEO Joseph A Mills said: “We are very pleased to announce the sale of our Powder River Basin assets. Connecting upstream production to the downstream sector and putting midstream in the center of it all. Samson Resources Corp, one of the largest energy companies to seek bankruptcy in the current commodities slump, reached a new agreement with creditors that … 15-11934 (CSS) ) Debtors. ) Samson Resources II, LLC Agrees to Sell Its Powder River Basin Assets for $215 Million. Rextag database of energy infrastructure assets. Using proceeds from the sale, the Company will pay off approximately $13 million in debt under its existing reserve-based credit facility and make a cash distribution to its unitholders. SAMSON RESOURCES CORPORATION, et al. 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., 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. Samson to Initiate a Strategic Review of the Company's Powder River Basin Assets. October 22, 2020. Bankruptcy, a global pandemic and a successful sale—Samson Resources II CEO Joe Mills has been through it all over the years. 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. Tulsa, Okla., January 4, 2021 – 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 an all-cash transaction. ,1) Case No. PRESS RELEASE PR Newswire . The latest technologies, technical solutions and strategies in Exploration, Drilling, Production and more. Share this article. 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 … All rights reserved. The effective date of the sale was July 1, 2019. 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, TULSA, Okla., Sept. 29, 2017 /PRNewswire/ -- Samson Resources II, LLC announced today that it has successfully closed the sale of its East Texas and North Louisiana assets to … Following this closing, the Company has successfully divested substantially all of its upstream assets. Samson Resources Corp operates as an oil and gas company. 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. 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). A comprehensive source for coverage of the financial landscape of the oil and gas industry. Following this closing, the Company has successfully divested substantially all of its upstream assets. The transaction is expected to close by 4 March 2021.Following the … Joseph A. Subscribe to get unmatched coverage of the oil and gas industry’s entire landscape. Willkie Farr & Gallagher LLP acted as legal counsel to Samson. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters. The Company also closed on the sale of 8,500 non-core acres […] After nearly a half a century in business, Samson Resources has announced it plans to wind down the Tulsa, Okla.-based company. “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.” 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.”. The company will be renamed Samson Resources and its headquarters will stay in Tulsa, where Kravis was born. 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 … Tulsa, Okla., January 4, 2021 – Samson Resources II, LLC (“Samson” or the “Company”) announced today that it has entered into a definitive agreement . Joseph A. 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 … Samson Resources Co. retained EnergyNet for the sale of multiple properties across several states in the U.S. Lower 48 through an auction closing March 31. Database of selected U.S. and international exploration wells. KKR fell 2.1 percent to $11.55 at 2:33 p.m. in … Samson owes $4 billion in debt and filed for Chapter 11 protection 13 months ago. The details of the distribution are expected to be announced in early March 2021. 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). Samson is selling it Williston assets to Resource Energy Can-Am LLC for $75 million. The offering is comprised of a 42 property package including nonoperated working interest, royalty interest and ORRI plus leasehold, mineral and surface acreage. 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. Information on assets, buyers and sellers, deal values, and more. Samson Resources II announced this week it has sold all of its Powder River Basin assets to an undisclosed buyer for $215 million in an all-cash transaction. Samson Resources II, LLC ("Samson" or the "Company") announced today that it has entered into a definitive agreement under which Samson will sell … The sale to the undisclosed buyer will close around March 4, 2021 with an effective date of Jan. 1, 2021, according to the company announcement. Cold Bore Technology Inc., the leader in frac completions automation and platform technology, said on May 4 it has recorded growth in new customers, revenue, team size and technology infrastructure during first-quarter 2021. Baker Hughes has been awarded a subsea oilfield equipment contract on May 3 from Petrobras as part of the Marlim and Voador field revitalization plan in the Campos Basin, offshore Brazil. 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 Johnson County Samson Resources serves customers in the State of Oklahoma. Following the closing, the Company will have divested substantially all of its upstream assets. Samson Resources II, LLC announces Sale of its Wamsutter Assets for $34.0 Million in the Washakie Basin of Wyoming PRESS RELEASE PR Newswire Dec. 14, 2017, 10:24 AM Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. Samson announced in March 2021 that it had successfully closed the previously announced sale of its Powder River Basin assets in Wyoming to Continental Resources, Inc. Subscribe for free to our newsletters for the latest energy news. Samson Resources II, LLC Agrees to Sell Its Powder River Basin Assets for $215 Million News provided by. 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…