Independent producer Samson Resources II said this morning its board approved the sale of its 47,000 acres in Johnson County, Wyoming, in which it holds a 75% working interest in the leasehold, Kallanish Energy reports.
The proposed sale is part of the Oklahoma-based, privately-held company’s strategic alternatives review announced a month ago. Said review could include a corporate sale, asset divestitures, a merger or other business combination during 2019, Samson said.
“Samson continues to focus on its core positions in the Powder River and Greater Green River basins,” said Joseph A. Mills, Samson’s president and CEO. “A sale of our Johnson County assets will assist the company in executing on its 2019 capital plan while maintaining the company’s very strong financial and liquidity position.”
The company’s (total) March 2019 production exceeded 10,500 barrels of oil-equivalent per day (64% liquids) and is expected to continue to increase through the rest of 2019.
The Johnson County assets are being marketed via EnergyNet, and Jefferies is advising Samson on its alternatives review process.
This post appeared first on Kallanish Energy News.