Samson Energy to Sell $1 bln Gulf of Mexico Assets

 

Oil and gas explorer and producer Samson Energy Company LLC is selling its offshore Gulf of Mexico assets that could fetch more than $1 billion, according to people familiar with the situation.

The Tulsa, Oklahoma-based company has tapped Jefferies LLC, the New York-based investment bank, to assist with the sale effort, these people said, asking not be named because the talks are private.

A representative for privately-held Samson confirmed Jefferies was working on a sale process for the portfolio of wells and leases, but declined to provide further details. A Jefferies representative declined to comment.

The assets up for sale include a portfolio of federal leases as well as investments in wells operated by third parties, according to the people familiar with the matter. Some of the wells are operating, while others are still in development.

The wells include projects named Buckskin and Moccasin, both operated by Chevron Corp ; as well as Gunflint, which is operated by Noble Energy Inc, these people said.

Another well, Samurai, which is operated by Murphy Oil Corp is also a part of the package being offered for sale, the people said.

(Reporting By Mike Stone in New York; Editing by Diane Craft)