Samson Resources II agrees to sell its powder River Basin assets for $215 million

first_imgUsing proceeds from the sale, the Company will pay off approximately $13 million in debt under its existing reserve-based credit facility and make a cash distribution to its unitholders.  The details of the distribution are expected to be announced in early March 2021.Joseph A. Mills, President and CEO of the Company stated, “We are very pleased to announce the sale of our Powder River Basin assets.  When this sale closes, it will conclude the four-year process of monetizing Samson’s assets and delivering a strong cash return to our equity owners following our emergence from bankruptcy in March 2017.”Following the closing, the Company, which was started by Charles Schusterman in 1971, will begin the process of winding down its affairs and moving toward final dissolution.Jefferies LLC is Samson’s exclusive financial advisor and led the marketing process for the Powder River basin assets.  Willkie Farr & Gallagher LLP acted as legal counsel to Samson. Samson Resources II, has announced that it has entered into a definitive agreement under which Samson will sell all of its Powder River Basin assets to an undisclosed buyer for $215 million in an all-cash transaction.  The Company exited 2020 producing approximately 8,500 barrels of oil equivalent per day (75% oil) from the Powder River Basin.  The sale is expected to close on or around March 4, 2021 and will have a January 1, 2021 effective date.  Following the closing, the Company will have divested substantially all of its upstream assets. The Company’s only remaining upstream oil and gas assets will consist of approximately 24,000 net leasehold acres, 23,000 net mineral acres and 40 non-operated wells, all located in East Texas, Oklahoma and Louisiana, which the Company anticipates divesting in early 2021. The Company exited 2020 producing approximately 8,500 barrels of oil equivalent per day (75% oil) from the Powder River Basin.  The sale is expected to close on or around March 4, 2021 and will have a January 1, 2021 effective date Samson Resources II to sell its powder River Basin assets. (Credit: Pixabay/James Armbruster.) Source: Company Press Releaselast_img read more

Farmingville Man Gets 23 Years for Shooting at Cops

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A drug dealer from Farmingville was sentenced Wednesday to 23 years in prison for firing his handgun at undercover Suffolk County police detectives who were trying to arrest him three years ago.Nicholas Hansen had been convicted in December of second-degree attempted murder, criminal use of a firearm, criminal possession of a weapon and criminal sale and possession of a controlled substance.“The most dangerous treacherous police assignment is the undercover investigation of drug dealers, a fact borne out by the violence that erupted in this gas station parking lot when this defendant got out of his car with his pistol drawn,” Suffolk County District Attorney Thomas Spota said.Prosecutors said the 23-year-old opened fire on members of the district attorney’s Heroin Task Force at the scene of a drug buy at a Holbrook gas station on Aug.11, 2011, authorities said.A New York State Police investigator who crouched less than 10 feet away was not hit.Hansen, who emptied his handgun during the exchange of gunfire, was found to have had four ounces of cocaine in his vehicle.last_img read more

Debating the Redefinition of Marriage

first_imgWe had the opportunity this morning on TVNZ’s Breakfast programme to debate the redefinition of marriage. You can watch the debate by clicking the image below.We have had lots of supportive feedback, including many comments about the facial gestures going on behind me which I was unaware of! But it’s important for our campaign to show respect and humility at all times. (I had the opportunity afterwards to congratulate Tamiti Coffey on his good work hosting NZ’s Got Talent.)Thank you for your messages of support. We do appreciate the words of encouragement in the midst of a difficult battle.If you would like to support our Campaign to Protect Marriage, please click HERElast_img

Football News Struggling Schalke search for new director ahead of game against Manchester City

first_img New Delhi: Bundesliga strugglers Schalke 04 are hunting for a new sports director, following Christian Heidel’s resignation, with their Champions League return leg at Manchester City looming. Having lost 3-2 at home to City in last week’s last 16, first-leg in Gelsenkirchen, Schalke wants to replace Heidel before the return in Manchester on March 12.Heidel quit in the wake of Saturday’s demoralizing 3-0 thrashing of Mainz in the Bundesliga. Despite having reached the knock-out stages of the Champions League, Schalke is enduring a dire domestic season and the defeat at Mainz was their 12th in 23 league games.”Even though a lot of things have gone against us this season, I have the overall responsibility for this,” said Heidel, who walked away after three years in the job.He recruited Domenico Tedesco – the club’s 17th head coach since 2001 – for 2017/18 and under the 33-year-old Schalke finished behind Bayern Munich in the Bundesliga last season. Bundesliga strugglers Schalke 04 are hunting for a new sports director.Bundesliga lost 3-2 at home to City in last week. Schalke wants to replace Heidel before the return in Manchester on March 12. For all the Latest Sports News News, Football News News, Download News Nation Android and iOS Mobile Apps. Now with Heidel gone, Tedesco is no longer safe – unless results improve. Schalke’s chairman Clemens Toennies has said they want to “briskly, but not hastily” find Heidel’s replacement with Michael Reschke, who was recently released as sports director by Stuttgart, linked to the role. Former Belgium head coach Marc Wilmots, ex-Schalke boss Mike Bueskens and ex-Royal Blues midfielder Ingo Anderbruegge, have also been mentioned as possibilities.The trio was part of the legendary Schalke team, nicknamed ‘Eurofighters’, which won the UEFA Cup in 1997 after a dramatic semi-final win over Tenerife before beating Inter Milan on penalties in the two-legged final. Toennies, up for re-election on June 30, is under pressure with the club suffering their worst results since 1983 when they were relegated from Germany’s top flight.The team currently are seven points above the bottom three. The 65-year-old also reportedly likes the idea of a former player being promoted from within, which would make ex-Germany international Gerald Asamoah, currently manager of Schalke’s U23 team – a candidate. highlightslast_img read more