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Samson Resources II to begin drilling program at Green River Basin in US

EBR Staff Writer Published 12 September 2017

Samson Resources II is set to begin drilling program on its Fort Union property in Sweetwater County, Wyoming, US.

The company’s board of directors has approved the proposal for the drilling of five operated wells on Fort Union property. They have also approved an accelerated permitting program in the Powder River Basin of Wyoming.

Samson will use two rigs to drill five operated wells in the Fort Union liquids rich gas formation. Each well is expected to generate 3.7 Bcfe at a cost of $2.9m per well.

The company will use a modern completion design to accelerate the reservoir and enhance the deliverability from each well.

Samson is expected to record the first sales from the project in the first quarter of 2018.

The firm is also focusing on the state and federal permitting program across its assets in the Powder River Basin to advance the drilling program in the second half of 2018.

In August, Samson agreed to divest its assets in the East Texas / North Louisiana region for around $525m. The deal is expected to complete in this month.

The company intends to use the proceeds from the deal to clear its existing debt of $210m, in addition to funding the drilling and completion capital program in 2018

Samson Resources II president and CEO Joseph Mills said: “We are very excited to announce the commencement of this drilling program as Samson gets back to what we do best, finding oil and gas production and reserves at attractive rates of return.

“We believe this program will position us for an active drilling plan in the Greater Green River and Powder River Basin of Wyoming in 2018.”