C. John Wilder is executive chairman of Bluescape Resources LLC. EXCO closed under the services and investment agreement with Energy Strategic Advisory Services LLC, subsidiary of Bluescape Resources Co. LLC.
A jump in prices would only help EOG, one of the largest U.S. shale oil producers, as it weathers a more-than 50% drop in oil since last summer, Reuters said.
Samson engaged Blackstone Advisory Partners as its investment banker and Alvarez & Marsal North America as its restructuring adviser. Samson’s restructuring counsel is Kirkland & Ellis, Reuters said.
The news comes on the heels of an anemic first quarter in which permits applications dropped 32% and gas play applications fell by 35%.
Samson Resources Corp.’s lenders target restructuring deal for $4.15 billion debt. A $110 million interest payment on bonds is due Aug. 15, people with knowledge of private matter told Bloomberg.
Refracking has been met with enthusiasm—especially when it works—and skepticism, but in order to move forward, the industry needs a large-scale refracking program and more investment IHS says.
Researchers find that water volumes for fracking within watersheds across the U.S. range from as little as 2,600 gallons to as much as 9.7 million gallons per well.
The deal, worth about $54 million, was the second transaction of SM's divestiture in the Ark-LA-Tex area of East Texas and northern Louisiana.
Itochu Corp. sold back its 25% stake in Samson Resources Corp. to the company for $1 based on company operations and oil prices, Bloomberg said.
During the quarter, 29.2 thousand barrels of oil equivalent per day was the average amount produced. There was $17.3 million in net income. The quarter ended March 31.