Samson Resources wins approval to sell five oil and gas asset packages

By Caroline Salls

Pittsburgh, Oct. 28 – Samson Resources Corp. received court approval to sell five packages of its oil and gas assets, according to orders filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company executed a $131.07 million stalking horse agreement with Tecolote Holdings, LLC for its West Anadarko assets, a $75 million stalking horse agreement with Resource Energy Can-Am LLC for its Williston assets and a $115.5 million stalking horse agreement with the Southern Ute Indian Tribe, which does business as Red Willow Production Co., for its San Juan assets.

In addition, Samson received approval to sell its Central Andarko assets to Fairway Resources Partners III, LLC for $132.03 million and to sell its East Andarko assets to Rebellion Energy, LLC for $152.45 million.

Based in Tulsa, Okla., Samson is the largest privately held crude oil and natural gas company in the United States. The company filed for bankruptcy Sept. 16, 2015 under Chapter 11 case number 15-11934.

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