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;
- 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.
Recommended Reading
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.
Shell Launches $3.5 Billion Share Buyback Program
2024-05-02 - Shell, which posted first-quarter adjusted earnings of $7.7 billion, will cancel all of the shares it buys.