The acquisition, which has been financed via a combination of debt and equity, comprised a 21% interest in the 240-acre crestal portion of the Jonah Field and a 16.6 % of a gross 12,500 acres in the Lookout Wash Field. Both of these fields are currently producing net gas of 3.2 million cubic feet, which is expected to increase to 4.2 million cubic feet this year.

Samson already has a focus in the Green River Basin since it acquired Kestrel Energy, which has an extensive acreage holding in the region.

The $21 million debt financing facility with Macquarie Bank was now complete, Samson said. The arrangement also includes the grant of options to Macquarie, which were approved by shareholders at an extraordinary general meeting a week ago.

In addition to the debt facility, Samson placed $A24.57 million worth of shares to mostly US institutional investors.

In March, Samson managing director Terry Barr said the transaction would put the company in a strong position.

“The acquisition of these quality gas assets in one of USA’s fastest expanding gas regions when combined with the company’s existing portfolio of exploration, development and production assets is expected to result in a significant re-rating of Samson as a significant junior explorer and producer in one of the world’s best gas markets,” he said.

“The estimated combined proved and probable reserves post acquisition of the company will be 65 billion cubic feet of gas equivalent.”