TULSA, Okla., April 11, 2019 /PRNewswire/ — Samson Resources II, LLC (“Samson” or the “Company”) announced today that the Company’s Reserve Based Lending facility of $160 million has been re-affirmed at $160 million during the 2019 spring semi-annual re-determination process. No other material changes were made to the terms or conditions under the credit facility during the process.
Joseph A. Mills, President and CEO of the Company stated, “We appreciate the tremendous support of our top tier bank group during the spring re-determination process. Our Reserve Based Lending bank partners play a key role in Samson’s 2019 objectives, which include generating 80% production growth from the drill bit. The re-affirmation of the Company’s $160 million Reserve Based Lending facility during the recent volatility in oil and gas markets is a testament to the quality of Samson’s asset base and operational execution in both the Powder River Basin and Green River Basin.”
Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma. The Company holds approximately 208,000 net acres in the Powder River and Greater Green River basins in Wyoming. For more information, please visit our website at www.samson.com.