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Samson Resources II Sells/Swaps Powder River Basin Property

Announced Date
May 09,2018
Deal Value $
44,000,000
Net Acres
7,000
Transaction Type
Property
Buyer
Not Disclosed
Seller
Source Documents:
   Source Link
Location
Region
Rockies - Powder River Basin

Country
United States

State
Wyoming

County
Converse

Play



Multiples
$Price/Net Acre
6,286

$Price/Adj. Net Acre
6,286

Transaction Details: 

Samson Resources II today annouced that the company is selling a portion (7,000 net acres) of position in Converse County, WY to an undisclosed buyer in exchange for $44 million in cash and 15,000 net acres in Johnson County, WY.

Samson under the transaction will include all depths below the Fort Union formation, is currently undedicated and will bolt-on to Samson's core acreage position in Johnson County, WY.

Here is a "representation map" of where Samson's leasehold position in the basin.

click to enlarge

Joseph Mills, President and Chief Executive Officer of Samson, commented, "This sale represents another important step in Samson's portfolio management strategy of divesting non-core assets and increasing focus on our core assets in the Powder River and Green River Basins of Wyoming.  The proceeds of this sale will be used to partially fund our 2018 drilling program and allow us to further capitalize on our robust drilling opportunities."  Mills further stated, "Samson continues to execute on its plan to deliver shareholder value with a lower risk growth strategy while remaining focused on balance sheet strength."




Rockies - Powder River Basin Deal Activity In Last 12 Months



Other Rockies - Powder River Basin Region's Deals



Announced DateBuyerSellerDeal Value($mm)LocationCategory
Feb-17-2021 - - Click here Wyoming  E&P
Nov-30-2020 - - Click here Texas  E&P
Feb-07-2019 - - Click here Texas  E&P
Oct-26-2018 - - Click here Wyoming  E&P
Oct-17-2018 - - Click here Wyoming  E&P

Price History



Date Deal Headline Price$/acre
Feb-17-2021 Continental Resources Enters the PRB; Inks $215MM Deal - -
Nov-30-2020 Contango to Acquire Oily Assets in Big Horn, PRB, Permian Basins - -
Feb-07-2019 Kimbell Picks Up Multi-Play Assets from EnCap in $151MM Deal - -

Other Samson Resources II LLC Deals



Announced DateBuyerSellerDeal Value($mm)LocationCategory
Feb-17-2021 - - Click here Wyoming  E&P
Aug-01-2017 - - Click here Louisiana  E&P