Samson SELLING/ AUCTIONING OIL AND GAS WELLS,

Yesterday I received notice from the Bankruptcy court handling Samson's bankruptcy. It's a " NOTICE OF DEBTORS' MOTION FOR ENTRY OF AN ORDER AUTHORIZING DEBTORS TO SELL CERTAIN OIL AND GAS ASSETS FREE AND CLEAR OF ALL LIENS,CLAIMS,AND ENCUMBRANCES.
I'm wondering how many received these notices. There are 22 pages front and back for a total of 44 pages of wells listed. Wells in Co. La, Ms,ND,NM,OK,TX,AND WY
Any thoughts on this please express them as I'm interested in the different views on this. My personal thought is to view this as a "good thing" and pray a company with a strong financial base will buy our wells. I guess I should have said I think we are along for the ride and hope the ride turns out well ( no pun intended) LOL! So any thoughts please post them and if anyone wants more info I'm will to scan these papers for anyone to see that's interested.
Thanks!

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Permalink Reply by jffree1 on February 8, 2016 at 8:30

Don't bet real money on that. There are a number of rules which have been tweaked in the last five years and I'm not sure just what the rules say on actual inactive wells now. I know they have to do aging reports and at some point a cost is established to plug defunct wells but I don't know if that means the company has to post a bond or plug the well at a defined time interval or just what. Guess I need to go read up on the issue... RRC has been known to let some of these old wells go decades but they appeared to get somewhat more serious about getting them plugged in recent years. dbob would probably know what the rules say.

Permalink Reply by jffree1 on February 8, 2016 at 8:32

KOH,

If you will find the Lease ID #, I will see if I can find a status on the lease @ RRC. Have you written to Samson to inquire about the well? I think I'd start there.

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