Yesterday, High Plains Gas, Inc. announced an update on their operational activities in the Powder River Basin of Wyoming.
Concerning the Dry Fork Project, the Company has secured the lease making up the Project in the Powder River Basin (PRB). High Plains Gas has drilled seven wells on the lease with three beginning to show gas. They own other wells in the area that have been producing gas for more than seven years. In addition to proven production, the Company maintains secure control of all gas flow around, to and from the Project.
The initial phase of the Dry Fork Project will be comprised of 70 new wells with drilling to be completed in May of 2011. The second phase of the Dry Fork Project is a continuation of phase one with 83 new wells forecasted to be completed by June of 2012.
High Plains Gas, Inc. owns and controls the only transmission line with access to this gas opportunity. The Company has strong relationships with two independent transmission companies who will act as the point of sale for all gas produced by the Dry Fork Project. Redundancy in the points of sale enables High Plains Gas to minimize compression fees and reduce failure risks with their transmission partners.
Mr. Mark Hettinger, Chairman of High Plains Gas, Inc., said, “Our goal is to own or develop strong relationships with the majority of the midstream and compression on our fields. We are aggressively pursuing partnerships and contracts that will allow us to achieve this goal.”
Headquartered in Gillette, Wyoming, High Plains Gas, Inc. is an energy company actively engaged in the acquisition, development and production of natural gas primarily in the Powder River Basin. The Company currently maintains seven active leases in the region with 92 wells producing natural gas.
High Plains Gas, Inc. has a strong foundation in the Basin and growth as a core value. To achieve their growth plans, the Company owns an inventory of gas related equipment and material. Current average well depth is approximately 280 feet. At this depth, they own sufficient well casing to cover 20 wells. The Company also owns 36 additional well site equipment packages. They also have an inventory of eight miles of 8 inch transmission line.
The Company will purse expansion opportunities for the profitable production and transmission of natural gas. They also believe that they have unique experience and expertise in the refurbishment and reactivation of wells that produce gas from coal bed methane (CBM) formations.
For more information visit: www.highplainsgas.com
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