Marketed: More Than 170 Williston Wells, Samson Oil & Gas, EnergyNet

Samson Oil & Gas Ltd.’s (NYSE MKT: SSN) U.S. subsidiary is selling Williston Basin assets through a sealed-bid offering handled by EnergyNet.

The offer comprises operated and nonoperated working interests in 171 wells plus overriding royalty interest and roughly 62,000 gross (51,000 net) associated leasehold acres in various counties in North Dakota and Montana.

Highlights:

  • Operated working interests in 104 wells;
    • 29.140625%-100% working interest and 22.729687%-85.69% net revenue interest;
  • Nonoperated working interests and overriding royalty interests in 67 wells;
    • 0.117%-50% working interest and 0.09126%-41.5625% net revenue interest in 53 wells;
    • 0.035531%-1.979583% overriding royalty interest in 14 wells;
    • Operators include Continental Resources Inc. (NYSE: CLR), White Rock Oil and Gas LLC, Whiting Petroleum Corp. (NYSE: WLL) and XTO Energy Inc.;
  • Six-month average 8/8ths production of 1,264 barrels per day (bbl/d) of oil and 5.168 million cubic feet per day;
  • Three-month average net income of $371,880 per month;
  • About 61,869 gross (51,305 net) leasehold acres;
    • 50,346 net HBP acres;
    • 959 net non-producing acres;
    • About 89% is limited from surface to base of the Madison Formation; and
  • Upside potential (provided by seller) includes 26 infill proved undeveloped locations, 46 probable locations, 3.7 million bbl of oil in net proved developed reserves and 2 million bbl of oil in net proved undeveloped reserves.

Bids are due by 4 p.m. CT July 13 and can be emailed to Lindsay Ballard, EnergyNet business development manager. For more information visit energynet.com or contact EnergyNet's Denna Arias at 281-949-8463.