Under the agreement, Samson and its partner will be free carried through the drilling and completion of two wells with approximate 4,500’ laterals and will be reimbursed for a portion of the cost of the North Platte 3-D seismic survey. Halliburton will acquire 25% equity in the farm-in area (a net 2,819 acres). The transaction has been structured such that the acquisition cost can be valued at a rate of $3,275 per acre. Halliburton retains the option to not drill the second farm-in well; in which event its 25% equity would be reduced to half the project area. (a net 1,410 acres)
