TULSA, Okla., April 16, 2018 /PRNewswire/ — Samson Resources II, LLC (“Samson” or the “Company”) announced today that the borrowing base under its senior secured revolving credit agreement has been reaffirmed by its lender group in the amount of $106.5 Million 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 Mills, President and CEO of the Company stated, “We want to thank our lender group for the support they have shown the Company, and we are very pleased with the results of the redetermination process. The Company remains focused on maintaining a strong balance sheet while executing on our 2018 capital program, which is expected to deliver approximately 20 percent oil growth year-over-year as compared to 2017 exit volumes.”
Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma.