Samson Resources Co.

Transaction Type
Sellers
Marketers
Basin
Williston
Post Date
Close Date
Estimated Price
MM
Description

Samson Resources Co. has retained RBC Richardson Barr to sell all of its producing oil and gas properties and related assets in an area of mutual interest in North Dakota.

The package includes 26.1% working interest (21.7% net revenue interest) in Middle Bakken and upper Three Forks wells (average 16.9% lease burden) in Williams, Divide and Burke counties. The properties feature 148 proved developed producing wells (72 Middle Bakken, 70 Three Forks, six other zones). Continental Resources Inc. is operator of 126 of the wells.

The overall leasehold position includes more than 45,000 net acres (approximately 86% held by production) in an area that straddles the Nesson anticline. All rights and all depths owned will be conveyed, and the AMI term expires in November.

April net production is projected to be 4,050 barrels of oil equivalent per day. Projected net exit production for 2012 is approximately 5,900 barrels of oil equivalent per day. Net proved, probable and possible reserves are 107.1 million barrels equivalent.

Upside includes 17 wells currently drilling, completing or waiting on completion plus 12 additional approved AFEs. There are 1,072 new drilling locations.

The bid due date is May 31. Contact Craig Lande, 713-585-3335, craig.lande@rbccm.com.