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Investor group to gain shale play acreage with Samson acquisition

An investor group consisting of Kohlberg Kravis Roberts & Co. LP (KKR), Natural Gas Partners (NGP), Crestview Partners and Itochu Corp., has signed a definitive agreement to acquire Samson Investment Co., one of the largest private exploration and production companies in the US, for $7.2 billion.

Under the terms of the agreement, the investor group will acquire all of Samson's assets with the exception of its onshore Gulf Coast and offshore deep water Gulf of Mexico assets, which will continue to be owned by the Schusterman family.

Founded in 1971, Samson owns interests in over 10,000 wells of which it operates over 4,000 wells in the United States, with key positions in oil and liquids-rich plays such as the Bakken, Powder River, Green River, Granite Wash, Cana Woodford and Cotton Valley as well as in the Haynesville and Bossier gas shales.

"We had two guiding principles — we wanted a partner who would value both our assets and our people. This group demonstrated its commitment to both. They recognize that maintaining our culture will best enable Samson to retain and build the strong team we have and thereby continue to profitably grow our asset base," said Stacy Schusterman, CEO of Samson.

The company’s headquarters is expected to remain in Tulsa, Oklahoma.

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