DOUGLAS — Samson Resources II, LLC, announced a $44 million deal with an undisclosed company on May 9. Samson will sell 7,000 acres and 17 wells in Converse County.
Despite the $44 million price tag, Samson considers the land and wells as non-core assets. Samson also received 15,000 net acres in Johnson County from the buyer.
After the sell-off, Samson, which is based in Tulsa, Oklahoma, will own a cumulative 152,000 acres in the Powder River Basin.
Samson CEO Joseph Mills said in a press release that the new capital will be invested in drilling.
The deal is just one of many for the company during the last few years. It filed for bankruptcy in 2015. The company says it has jettisoned $4 billion in debt and has undergone a flurry of financial moves and stated it had emerged from bankruptcy back in March of 2017.
Converse County Commissioners Chairman Rick Grant said that moves like these are frequent.