Tulsa, OK., September 29, 2017 – Samson Resources II, LLC (“Samson” or the “Company”) announced today that it has successfully closed the sale of its East Texas and North Louisiana assets to an affiliate of Rockcliff Energy II LLC (“Rockcliff Energy”), a privately held company headquartered in Houston, Texas. The final consideration paid to Samson for the assets totaled approximately $504,000,000, after giving effect to contractual purchase price adjustments to the $525,000,000 purchase price announced on August 1, 2017.

As previously disclosed, Samson will repay approximately $214,000,000 in outstanding borrowings under its Senior Credit Facility. In addition, the Board of Directors of Samson has declared a distribution totaling $250,250,000 ($11.00 / Class A Unit) (the “Special Distribution”) to be paid on October 31, 2017 to unitholders of record as of the close of business on October 17, 2017. Investors can access additional information about the Special Distribution by going to the Samson – Merrill Investor site or the Investor section of the Samson Company website.

Joseph Mills, President and Chief Executive Officer of Samson, commented: “We are very pleased to announce the closing of our transaction with Rockcliff and the payoff of our Senior Credit Facility as well as the payment of the Special Distribution to our Investors. Samson is well ahead of its business plan, since emerging from Bankruptcy on March 1, 2017, to establishing a strong balance sheet and a solid base of assets in the Powder River Basin and Green River Basin of Wyoming. We want to thank Rockcliff Energy for their professionalism and diligence at arriving at this very positive conclusion to our East Texas asset sale process”.

Samson will now focus its efforts on developing its oil and gas assets located in the Powder River and the Green River Basins of Wyoming. The Company owns approximately 146,000 net acres in the Powder River Basin and approximately 59,000 net acres in the Green River Basin and will explore a number of strategic and development opportunities in 2018.

Providing Samson financial advice in this sales process were Jefferies LLC and Houlihan Lokey Capital, Inc. and legal advice was provided by Willkie Farr & Gallagher LLP.

Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma.

Rockcliff Energy is a privately-held oil and gas company headquartered in Houston, Texas. In addition to management’s investment and ownership, the company’s outside investor group is led by Quantum Energy Partners, a leading private equity firm focused on the oil and gas industry. The investor group also includes other well-known institutions, foundations and endowments, which invest directly alongside management.

Forward-Looking Statements

In this press release, all statements that are not purely historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “project,” plan,” “estimate,” intend,” “potential” and other similar expressions. Forward-looking statements are based on
currently available business, economic, financial and other information and reflect management’s current beliefs, expectations and views with respect to future developments and their potential effects on Samson. Actual results could vary materially depending on risks and uncertainties that may affect Samson and its business. Samson’s actual actions and results may differ materially from what is expressed or implied by these statements due to a variety of factors, including (a) the ability of Samson to perform well and compete effectively, (b) the impact of restrictions in Samson’s Senior Credit Facility on its ability to make capital investments and pursue strategic growth opportunities, (c) the ability of Samson to continue to attract and retain qualified employees following emergence, and (d) other risks and uncertainties as disclosed by Samson in the future. Samson assumes no obligation to update any forward-looking statement made in this press release to reflect subsequent events or circumstances or actual outcomes.