Samson Resources Sells Powder River Basin Assets to Continental Resources

Updated 6 months 3 weeks ago

Samson II entered a definitive agreement in January 2021 to sell all of its Powder River Basin assets to an undisclosed buyer for $215 million in cash. The company exited 2020 producing 8,500 boe/d (75%) oil from these assets. The sale is expected to close on March 4, 2020 with Jefferies acting as an advisor. Samson's only remaining upstream assets will consist of 24,000 net leasehold acres, 23,000 net mineral acres, and 40 non-operate wells which the company anticipates divisting in early 2021. The company plans to pay off $13 million in debt and make a cash distribution following the sale, beginning the process of winding down the company.