Tulsa, Okla., October 9, 2018 – Samson Resources II, LLC (“Samson” or the “Company”) announced today that the Borrowing Base under its senior secured revolving credit facility has been increased by its lender group from $106.5 million to $160 million, effective October 1, 2018, following its regularly scheduled redetermination process. No other material changes were made to the terms or conditions under the credit facility during the process.
Joseph A. Mills, President and CEO of the Company stated, “We want to thank our bank group for the tremendous support they have shown Samson Resources II, LLC as we execute on our plan to grow the Company. The Company will remain financially disciplined while delivering crude oil and liquids-weighted production growth during 2018 of approximately 25% – 30% over 2017 exit rates. Samson is currently running two active rigs, one in the Powder River Basin and one in the Green River Basin.”