Samson Oil and Gas USA’s primary lender, Mutual of Omaha, confirmed its willingness to expand Samson’s borrowing base up to $30.5 million to enable the acquisition of properties in the Williston Basin.
According to a 10-Q filing with the SEC, Mutual of Omaha entered into a $25 million credit facility with Samson Oil in January 2014.
This expansion is conditional upon closing the acquisition and subject to acceptable final documentation.
Samson Oil, based in the U.S. and Australia, expects to close the transaction before the end of the current quarter.