US-focused Samson Oil and Gas has offloaded its gas assets in Wyoming's Jonah and Lookout Wash oilfields to a group of private buyers for $6.3 million.
US-focused Samson Oil and Gas has offloaded its gas assets in Wyoming's Jonah and Lookout Wash oilfields to a group of private buyers for $6.3 million.
Samson said the sale would result in a tax benefit of around $8 million, offsetting some of the income tax liability it incurred by the sale of acreage in Goshen County, Wyoming, in November 2010.
The company said it would now focus on developing its Bakken Formation and Niobrara Formation oil prospects in North Dakota and Wyoming, respectively.
Samson's shares dropped 2.7 per cent by close of trade today, to finish at $0.18.