Tue, May 17, 7:11 AM
Fri, Apr. 15, 6:30 PM
- North Dakota crude oil production fell for the third straight month in February to hit its lowest level in 18 months, while the state's rig count sunk to its lowest since October 2005, according to the latest data from the state's Department of Mineral Resources.
- The U.S.’s second largest oil producing state pumped 1.118M bbl/day in February, down very slightly from January's 1.122M but January output fell 2.6% from December, which fell 2.5% from November.
- The number of rigs drilling for oil in North Dakota is now at 29, down from 52 in January and 40 in February; the all-time high was 218 in May 2012.
- However, natural gas production in the state rose 2.9% in February to 1.69B cf/day, a new all-time high.
- Bakken shale exposure includes: CLR, HES, WLL, STO, OAS, MRO, EOG, XOM, NOG, CHK, DNR, SM, NFX, OXY, MUR, COP, SSN, CXO, EOX
- Now read U.S. oil rig count falls by three in latest Baker Hughes tally
Wed, Apr. 13, 3:14 PM
- Samson Oil and Gas (SSN -11.5%) is lower after agreeing to a private placement with several institutional investors for 1.89M American depositary shares at $0.74 each, or a 22% discount from the stock’s previous close, for $1.4M in expected gross proceeds.
- SSN says it plans to use the proceeds to fund the development program of its newly acquired Foreman Butte project.
Tue, Feb. 23, 1:22 AM
Wed, Feb. 17, 5:47 PM
- North Dakota's crude oil production fell in December for the first time in three months, down 2.5% to 1,152,280 bbl/day, as oil producers begin to acknowledging the low-price reality rolling over the entire energy industry.
- Only 41 drilling rigs are operating in the state as of Wednesday, the lowest level since July 2009, and North Dakota producers have cut back requests to drill new wells, with only 78 permitted in January compared to 125 in November.
- Bakken shale exposure includes: CLR, HES, WLL, STO, OAS, MRO, EOG, XOM, NOG, CHK, DNR, SM, NFX, OXY, MUR, OXY, COP, SSN, CXO, EOX
Thu, Jan. 7, 12:41 PM
Wed, Jan. 6, 10:24 AM
- Samson Oil & Gas (SSN +221%) shares more than triple after the company agrees to buy a number of assets in the Williston Basin in North Dakota and Montana for $16.5M.
- The properties include oil and gas leases, producing oil and gas wells, currently shut-in wells and associated facilities; the 41 net producing wells total ~720 bbl/day, while the properties contain estimated proved reserves of 8.5M barrels with net present value of $85M as of Oct. 1.
- SSN says the 51.3K net acres of petroleum leases being acquired include the right to exploit hydrocarbons down to the top of the Bakken formation.
Apr. 9, 2015, 12:22 PM
- Statoil (STO +0.4%) says it made an oil discovery at its Miocene Yeti prospect in the deepwater Gulf of Mexico, but is still determining the size of the discovery in order to consider future appraisal options.
- STO says its drilling efficiency on Yeti is among the best of any well drilled in Walker Ridge, achieving a rate of 400 ft./day.
- STO is the Yeti operator with 50% interest, partnering with Anadarko Petroleum (NYSE:APC) with a 37.5% stake and Samson Oil owning 12.5% (NYSEMKT:SSN).
Apr. 2, 2015, 12:45 PM
Apr. 15, 2014, 10:41 AM
- Trading in Samson Oil & Gas (SSN) remains halted after the company files for an offering of ~290M ADSs, ~87M warrants to purchase ordinary shares, and ~4.35M ADSs issuable upon the exercise of warrants.
- Separately, SSN says it is in the process of selling its interests in the Rennerfeldt 1-13H and the Rennerfeldt 2-13H well bores for a net $200K over the costs incurred to date.
- SSN had been headed lower in the premarket, -8.7% when the trading halt was called.
Aug. 22, 2013, 12:26 PM
- Samson Oil & Gas (SSN -5.5%) sinks following an overnight announcement that it completed the allotment of more than 32M ordinary shares together with more than 12.8M free attaching options, a portion of the shortfall from the non-renounceable rights issue which was placed with U.S. investors.
Aug. 19, 2013, 8:48 AM
- Samson Oil & Gas (SSN) requests a trading halt on the NYSE and Australian Securities Exchange until Aug. 21 pending the announcement of a capital raise.
- Last week, SSN divested half its equity position in undeveloped acreage in the North Stockyard project in North Dakota for ~$5.5M in cash, and terminated an agreement to sell interests in the Roosevelt Project in Montana for ~$13.5M in cash.
Aug. 13, 2013, 2:07 PM
- Samson Oil & Gas (SSN -8.9%) plunges after reporting last night it had cancelled the $13.5M sale of its interest in the Roosevelt Project in Montana after the expected buyer failed to close by July 31 as contracted.
- SSN believes the project is a "unique and valuable asset," and still hopes to realize value through a sale or joint development project.
Mar. 22, 2013, 3:10 PM
Samson Oil & Gas (SSN -15.6%) hits a 52-week low after last night's news it raised $2.8M from U.S. institutional investors through a placement of American Depositary shares and a shareholder rights offering; SSN plans to use the proceeds to drill six development wells in North Dakota.| Mar. 22, 2013, 3:10 PM | 2 Comments
Dec. 4, 2012, 12:45 PM
Dec. 4, 2012, 9:10 AM