Headquartered in Perth, Australia, Samson Oil & Gas Limited is an oil and gas company who holds extensive development and exploration acreage in the United States. Trading on the American Stock Exchange (AMEX) and the Australian Stock Exchange (ASX), the company focuses on the American energy sector and primarily the exploration for and production of gas. The company has a current market capitalization of $386.94M.
In addition to their corporate headquarters, Samson Oil & Gas Limited has an operations office in Lakewood, Colorado. Formerly known as Samson Exploration NL, the company changed their name to Samson Oil & Gas NL in 2005. They subsequently changed their name to Samson Oil & Gas Limited in 2006.
Samson Oil & Gas Limited owns full or partial working interests in projects in Oklahoma, Wyoming, North Dakota, Montana, and New Mexico. As part of their joint venture arrangement with Devon Energy Corporation, Samson has joined the Rubicon Unit. This unit is in the process of formation in the southern part of the Green River Basin in Wyoming. The unit area consists of approximately 40,000 acres. Samson Oil & Gas Limited currently holds 6,400 acres. This unit allows for the holding of the underlying leases outside the applicable lease terms but is held so long as the terms of the unit agreement with the Bureau of Land Management are being met. This traditionally includes a continuous drilling program.
The company recently announced that they would drill a Bakken Formation well in North Dakota. They have received a proposal from the operator of the North Harstad field to drill a Bakken Formation well in that location. They currently produce approximately 100 barrels of oil per day (BOPD) gross from a horizontal well in the Bluell Formation of the North Harstad oil field. This is in the central part of the Williston Basin. Their well there has been on production for 15 months and has demonstrated the productive capacity of this formation. Development wells next to this location are in the planning stage as part of the company’s effort to further their oil production profile.
Samson Oil and Gas Limited is planning from the Land Down Under for further projects in the Land of Opportunity. They see the potential for the company in oil and gas projects in the United States. Their mission is to provide value to their shareholders through continual development of these varied projects.
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