Samson Resources II, LLC Announces Strong Initial Production
TULSA, Okla., Jan. 13, 2020 /PRNewswire/ -- Samson Resources II, LLC ("Samson" or the "Company") announced today that it recently turned to sales two additional operated Shannon formation wells in Converse County, Wyoming.
The Ogalalla Fed 21-2215 40-75SH generated an IP 24 rate of 3,346 barrels of oil equivalent per day ("boe/d") and an IP 30 of 2,420 boe/d (94% oil) from a 9,898-foot lateral length, or 245 boe/d per 1,000 lateral feet.
The Ogalalla Fed 4075-2215 2SH produced an IP 24 rate of 2,622 boe/d and an IP 30 of 2,129 boe/d (94% oil) from a 9,548-foot lateral length, or 223 boe/d per 1,000 lateral feet.
Joseph A. Mills, President and CEO of the Company stated, "We are very pleased with the results from our two Ogalalla Shannon formation wells as these two wells compare very favorably to our outstanding Spearhead Federal well, which has produced over 413,000 barrels of oil equivalent in 290 days. Over the past 12 months, Samson has turned to sales top performing Turner, Frontier, Shannon, Niobrara and Mowry formation wells in the PRB, which illustrates the vast resource potential of the stacked pays over the Company's acreage in the Powder River Basin. Samson's year end net oil-weighted production from the Powder River Basin was approximately 10,000 barrels of oil equivalent per day."
Further, Samson completed a divestiture of approximately 20,000 net acres in Johnson County, Wyoming during the fourth quarter of 2019, for an undisclosed sum, to focus on the Company's core operating area in Converse and Campbell Counties. The Company ended 2019 with no debt and nothing drawn on its $100 million reserve based lending facility and approximately $13 million in cash.
Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma. The Company holds approximately 132,000 net acres in the Powder River Basin in Wyoming. For more information, please visit our website at www.samson.com.
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SOURCE Samson Resources II, LLC