Samson Resources II LLC is undergoing a strategic review following its acquisition of substantially all of the assets of Samson Resources Corp. after it emerged from Chapter 11 bankruptcy on March 1.

Samson II is a privately held E&P headquartered in Tulsa, Okla. The company's portfolio is comprised of about 490,000 net acres in East Texas, North Louisiana and the Powder River and Green River basins in Wyoming, according to its press release.

The company said March 28 it engaged Jefferies LLC as lead adviser and Houlihan Lokey Capital Inc. as co-adviser to conduct a strategic review of its assets, including an evaluation of its core competencies and underlying reserve and production potential.

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Samson II said it has a "substantially improved financial position" having discharged about $4 billion of debt and nearly $300 million of annual interest expense from Samson Resources Corp. The company has more than $60 million in total liquidity, including both cash on hand and under a credit facility.

In addition, Joseph A. Mills was selected by the Samson's second-lien creditor group as its president and CEO, the company said Feb. 20.

Mills has nearly 35 years of experience in the oil and gas industry, most recently serving as chairman and CEO of Eagle Rock Energy Partners. He also founded and served as CEO of Montierra Minerals & Production LP, a private equity-backed company.

Previously he served as senior vice president of operations at Black Stone Minerals LP, senior vice president of El Paso Production Co. and Sonat Exploration Co. He currently serves on the board of the Houston Producers Forum and is a member of the University of Houston Energy Advisory Board.

Mills holds a BBA in petroleum land management from the University of Texas and an MBA in finance from the University of Houston.