Samson Acreage Sale Delayed Due To Courthouse Traffic

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Samson issued a press release last week regarding its DJ Basin acreage sale that this blog has been covering.  They stated that there will be a delay in the transaction which was scheduled to be closed on July 26th

“The extraordinary increase in leasing activity in Goshen County has resulted in a rationing of the time for which any individual is granted access to the County’s land title records, which are maintained in a relatively small facility in Torrington, Wyoming. County officials have been forced to create a roster and schedule to ensure fair and equal access to the records in response to the unprecedented demand. As a result, the buyer’s representatives have been unable to complete their due diligence on the land titles associated with the Samson leases.”

 Samson states that the agreement terms have not changed, and they will still be receiving between $61 and $79 million for the 24,166 Goshen County acres.  Samson will receive a $10 million deposit on August 5th and will receive the remainder of the balance by Sept. 5th.  Samson has still not disclosed the buyer, but says they are a large, independent E&P and that they paid $3,275 per acre. 

Check back to this blog and the Niobrara Unconventional Update for more Niobrara news.  Drillinginfo will be monitoring the quarterly reports regarding this play, including DJ Basin players Noble, EOG, SM Energy among others.

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Justin Birmingham

Justin Birmingham is a Research Analyst at Drillinginfo. He creates proprietary research studies, works with statistical models and manages datasets for the DI Analytics team. Justin earned his Bachelor of Science from Texas State University – San Marcos.