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Samson Adds Hedges Following Bakken Deal; IDs Development Plans
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Samson Oil & Gas Limited has added to its hedge book following the recent Foreman Butte acquisition. The company also outlined its development plans for the asset.
HedgingIn conjunction with the extension of Samson’s current credit facility to fund the Foreman Butte acquisition, Samson has entered into new hedging arrangements. Approximately 75% of total current production including the acquisition has been hedged from May 2016 to April 2018. Additional hedges will be put in place as production increases. The counter party to the hedges is BP, Samson’s previous hedge counter party.
The hedges, detailed below, were put in place on March 30, 2016. Samson has deferred premiums of $0.5 million with respect to this hedge program. The net value, after deferred premiums of the hedge portfolio…
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