DENVER–(BUSINESS WIRE)–Resource Energy Can-Am LLC (“Resource Energy”) announced that it has entered into a stalking horse asset purchase agreement with Samson Resources Company to acquire certain of Samson’s North Dakota and Montana properties in the Bakken play. Under the terms of the agreement, the assets will be sold for approximately $75.0 million (subject to customary adjustments). The assets are being acquired under Section 363 of the Federal Bankruptcy Code. The asset purchase agreement is subject to approval of the United States Bankruptcy Court for Delaware.
About Resource Energy
Resource Energy, led by Paul Favret and Kent Moore, is headquartered in Denver, Colorado. The management team has extensive evaluation, acquisition, development and operational experience with expertise in nearly all of the U.S. unconventional basins. The company is dedicated to using state of the art evaluation, drilling, and completion technologies while providing financial discipline to optimize cash flows and value generation in a challenging commodity price environment. Resource Energy’s strong operational, financial and technical track record have enabled our team to create a long standing reputation for conducting operations in a cost effective, safe, and reliable manner. Resource Energy is backed by funds advised by Apollo Global Management, LLC (the “Apollo Funds”). The Apollo Funds are a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. The Apollo Funds have assets under management of approximately $186 billion as of June 30, 2016 in private equity, credit and real estate funds invested across a core group of nine industries where the Apollo Funds have considerable knowledge and resources.
For more information about Resource Energy, please visit www.resource-energy-us.com
For more information about the Apollo Funds, please visit www.agm.com