Tulsa-based Samson Resource won the approval of a federal bankruptcy judge this week in moving ahead with the sale of an estimated $660 million in assets.
Samson owes $4 billion in debt and filed for Chapter 11 protection 13 months ago.
This week, Judge Christopher Sontchi with the U.S. Bankruptcy Court for the District of Delaware okayed the sales of Samson resources in Oklahoma, North Dakota, New Mexico and Texas.
Samson is selling it Williston assets to Resource Energy Can-Am LLC for $75 million. Its West Anadarko will be sold to Tecolote Holdings LLC for more than $131 million. The company will sell the East Anadarko to Rebellion Energy LLC for more than $152 million. the Central Anadarko assets will be unloaded to Fairway Resources Partners III LLC for $132 million. Samson’s San Juan will be sold for $115 million to the southern Ute Tribe doing business as Red Willow Production company.