Samson Oil and Gas has now grown into a company that can afford to drill and FRAC multiple wells at one time. They have brought in JV partners in multiple locations and have major projects in the Bakken and Bluell Formations in North Dakota (Zavanna), Goshen County Wyoming (Halliburton, Mountain Engineering and Chesapeake), and in Montana (Halliburton will be funded but commits to a drill and operations team). This affords Samson to triple in production numbers in a few short months.
If you take the current state of the SSN production (net) of wells and value that as a sustained number that will give us today's base.
First number is 417 BOE/D net, in the North Stockyard Field. North Dakota. Well - - - - - - - - Net MCF/D Net BOD Net BOE/D Leonard #1-23H __ 0.0 ____ 5 ____ 5 Harstad #1-15H __ 10.4 ____ 13.1 ____ 14.8 Gene #1-22H __ 49.6 ____ 58.8 ____ 67.1 Gary #1-24H __ 107.7 ____ 54.8 ____ 72.8 Rodney #1-14H __ 28.9____ 42.4 ____ 47.2 Earl #1-13H __ 258.6 ____ 167 ____ 210.1 Total - - - - - - - 455.2 ____ 341.1 ____ 417.0
Add the Sabretooth Gas Field in Brazoria County Texas Well - - - - - - - - Net MCF/D Net BOD Net BOE/D Davis Bintliff #1 __ 4.43 ____ 52.8 ____ 53.6
Add the State GC wells in Lea County, New Mexico
Well - - - - - - - - Net MCF/D Net BOD Net BOE/D State GC #1 __ 82.8 ____ 45.6 ____59.9
Add the Harrod Oilfield, Campbell County, Wyoming
Well - - - - - - - - Net MCF/D Net BOD Net BOE/D Harrod 4-2 __ 0.0 7.2 7.2
Current state: SUM 537.6 BOE/D (net)
With the addition of the Everett well in the Bakken that current state will be sustained throughout the year.
Allow for these additions to increase current state:
North Stockyard field, Williston, North Dakota will sustain current production and increase when Everett FRAC'D
State GC Oil and Gas Field Lea County New Mexico will increase when State GC #2 is FRAC'D
Harrod Oilfield, Campbell County, Wyoming was just worked over and will sustain with increase over next year.
Hawk Springs Project, Goshen County, Wyoming will substantially increase Samson production (net) numbers as wells are high percentage Working Interest Defender is 37.5% and SOA is 100% WI. Great news imminent as wells already validated for Hydrocarbon saturation content.
Roosevelt Project in Roosevelt Count, Montana will substantially increase Samson production (net) numbers as wells are high percentage Working Interest Australia II, and IV are 100% WI. Australia III is also 100% WI and permitted but will be adding early next year.
Diamondback in Texas will substantially increase Samson production (net) numbers as wells are high percentage Working Interest 60+% WI .
Goshen County, Wyoming the State 24-63 #14-1H that is owned by Chesapeake is a 12.5% WI will be adding to the ORRI this year. The State 24-63 #10-1H also owned by Chesapeake is a 25% WI will be adding to ORRI.
The addition of the high percentage Working Interest wells will triple the production numbers near term. Consider these 4 wells Diamondback, SOA, Australia II & , and Australia IV should add 200 BOE/D each that would add 720 BOE/D and the Defender 75 BOE/D (using net numbers still) then all the others above (using net applying the WI) would approach 1500 BOD/E by year end.
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SSN Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
