Samson Resources II, LLC Announces Redetermination and Extension of Reserve Based Lending Borrowing Base at $75 Million and Continuation of Drilling Plan in the Powder River Basin

Samson Resources II, LLC ("Samson" or the "Company") announced today that, pursuant to its regularly scheduled redetermination process, the Borrowing Base under its senior secured revolving credit facility has been redetermined by its lender group at $75 million with a one-year extension to November 2022.  The Company ended the third quarter of 2020 with net debt of $3.5 million, providing ample liquidity for Samson to continue its development plans.  Samson re-initiated its drilling and completion program in the Powder River Basin during August 2020.

Joseph A. Mills, President and CEO of the Company stated, "Beginning in August 2020, Samson resumed its successful development program of our multiple horizon, oil-weighted opportunity set in the Powder River Basin.  Samson is currently the only company running a horizontal rig in the Powder River Basin of Wyoming.  Samson's low operating cost structure, strong hedge book and efficient drilling program enables the Company to maintain stable production levels with  line of sight to generating free cash flow and we anticipate being completely de-levered by the end of the second quarter of 2021.  In addition, we project having over 100 federal permits approved by the end of the fourth quarter of 2020 to facilitate further successful development of Samson's 132,000 net acres in the Powder River Basin."

Josh C. Anders, Chief Financial Officer of the Company commented, "We appreciate the continuing robust support from our bank group by redetermining the reserve based lending facility borrowing base at $75 million and providing a one-year extension to November of 2022.  The Company is looking forward to a long-term partnership with the addition of two new facility banks, Arvest Bank and Commerce Bank."

Samson is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma.  The Company holds approximately 132,000 net acres in the Powder River Basin in Wyoming.  For more information, please visit our website at www.samson.com.            

Media Contact: Brian Maddox, 212-850-5661