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Terra Energy Unit Unveils Western Colorado Oil, Gas Drilling Plan

Terra Rocky Mountain LLC, a unit of Houston-based Terra Energy Partners, is proposing to drill up to 63 oil and natural gas wells over the next two years on the Western Slope in Colorado, according to the U.S. Bureau of Land Management (BLM).

Prior to starting an environmental assessment (EA) of the proposed development about nine miles west of Rifle, CO, BLM’s Colorado River Valley field office is accepting public comments until Feb. 8.

Terra Rocky Mountain has estimated it would produce more than 120 Bcf of natural gas during the projected 40-year life of the development under its proposed Balzac Gulch Phase 2 master development plan (MDP), drilling the wells directionally from four well pads.

Two years ago, Terra bought part of WPX Energy Inc.'s extensive Piceance Basin properties in Colorado for $910 million, solidifying its decision to focus less on gas and more on its oily portfolio. Terra bought Rocky Mountain LLC as part of the deal.

A former Occidental Petroleum Corp. senior executive for the Permian Basin and Midcontinent, Terra CEO Michael Land has touted his firm's familiarity with the Piceance Basin.

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