Samson Resources enters into three-year $500 million revolver

By Wendy Van Sickle

Columbus, Ohio, Nov. 1 – Samson Resources II, LLC entered into a three-year amended and restated senior secured credit agreement providing for a $500 million revolving credit facility with an initial borrowing base limit of $120 million, according to a press release.

JPMorgan Chase Bank, NA, is the administrative agent and is a joint lead arranger along with Capital One, NA and ING Capital, LLC.

The three-year term expires in October 2020.

“After fully paying down our prior credit facility in September, we are very pleased to announce the execution of our amended and restated senior secured credit facility with an initial borrowing base of $120 million,” Joseph A. Mills, president and chief executive officer of Samson Resources II, said in the release.

“This new facility better reflects Samson's strong financial health and provides additional financial flexibility to grow our premium asset base in the Powder River and Green River Basins of Wyoming."

Based in Tulsa, Okla., Samson is an independent oil and natural gas company engaged in the exploration, development and production of oil and natural gas from properties located onshore in the United States.

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