Samson Resources II LLC said June 11 it recently closed an acquisition in Wyoming's Green River Basin that boosted its position in the region to more than 53,000 net acres.
The private Tulsa, Okla.-based E&P acquired the Green River acreage and working interest in its core operating area in Sweetwater County, Wyo., from a nonoperating working interest partner for $15.9 million.
The acquisition, which closed June 8, consisted of roughly 33,000 gross (10,500 net) acres plus working interests in 30 wells producing about 450 boe/d. As a result, Samson's working interest in the area increased to about 90% in most operated producing and future wells.
The deal consolidates Samson's acreage position in its core development area in the Green River Basin where President and CEO Joseph Mills said the company recently completed "two of the best performing vertical Fort Union wells in the immediate area."
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Mills said Samson will continue testing the company's downspacing plans on its Green River Basin acreage position during 2018.
"Samson remains focused on growing in our two core areas, the Powder River and Green River basins of Wyoming, and this acquisition of additional acreage in the core of our Sweetwater County position will be accretive to our production and financial results as we begin our drilling program in 2018," Mills said in a statement.
In early May, Samson also bolstered its position in the Powder River Basin with an agreement to sell noncore assets. In exchange, the company received $44.4 million cash and 15,000 net acres in Johnson County, Wyo., that the company said was a bolt-on to its core in the basin.