Transaction Details: 

Samson Resources II today annouced that the company is selling a portion (7,000 net acres) of position in Converse County, WY to an undisclosed buyer in exchange for $44 million in cash and 15,000 net acres in Johnson County, WY.

Samson under the transaction will include all depths below the Fort Union formation, is currently undedicated and will bolt-on to Samson's core acreage position in Johnson County, WY.

Here is a "representation map" of where Samson's leasehold position in the basin.

click to enlarge

Joseph Mills, President and Chief Executive Officer of Samson, commented, "This sale represents another important step in Samson's portfolio management strategy of divesting non-core assets and increasing focus on our core assets in the Powder River and Green River Basins of Wyoming.  The proceeds of this sale will be used to partially fund our 2018 drilling program and allow us to further capitalize on our robust drilling opportunities."  Mills further stated, "Samson continues to execute on its plan to deliver shareholder value with a lower risk growth strategy while remaining focused on balance sheet strength."