Deals - Acquisition, Mergers, Divestitures
Samson Hits Roadblock in Sale of Williston Foreman Butte Asset
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Samson Oil & Gas' sale of its Foreman Butte project in the Williston Basin to Eagle Energy Partners I LLC has hit a roadblock. The $40MM deal was initially struck in late June 2018.
The transaction was scheduled to close on October 15th but failed to do so. As a result, the PSA has now expired.
Samson remains in discussions with the Buyer but is now actively seeking an alternate buyer for the asset. The recent appreciation in the price of oil has enhanced the reserve value of the asset. The Company is therefore confident that interest in the asset will remain high.
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