Samson Resources II to drill five wells in Wyoming

Sept. 12, 2017
Samson Resources II LLC, Tulsa, is slated to drill five operated wells on its Fort Union property in Sweetwater County, Wyo., and will conduct an accelerated permitting program in the Powder River basin.

Samson Resources II LLC, Tulsa, is slated to drill five operated wells on its Fort Union property in Sweetwater County, Wyo., and will conduct an accelerated permitting program in the Powder River basin.

The company will use two rigs to drill the wells in the liquids-rich Fort Union gas formation and expects to produce 3.7 bcf of gas equivalent/well with 45% liquids at a cost of $2.9 million/well. Samson says it will employ a modern completion design to stimulate the reservoir and maximize deliverability from each well. Sales are expected to begin in first-quarter 2018.

Samson also says it has begun an aggressive state and federal permitting program across its assets in the Powder River basin of Wyoming ahead of a planned second-half 2018 drilling program.

Samson in August reported that it’s exiting East Texas and North Louisiana in a $525-million property sale to Rockliff Energy II LLC (OGJ Online, Sept. 12, 2017). The deal is expected to close late this month.

Samson will use the proceeds to retire existing debt of $210 million, fund a distribution to existing equity holders, and fund its 2018 drilling and completion capital program.