Shale Daily / NGI All News Access

Industry Brief

Recovery Energy Inc. announced Monday that it has closed on a $12.3 million cash-and-stock deal to acquire oil and gas leases on 8,060 net acres from Houston-based Wapiti Oil & Gas LLC. The leasehold is located primarily northwest of the prolific Silo field in Laramie County, WY. The Wapiti sale follows Denver-based Recovery's acquisition last month of approximately 1,700 acres in Weld County, CO and about 6,600 net acres in Goshen County, WY from various private individuals for $1.9 million in cash and stock. The combined acquisitions bring Recovery's holdings in the Denver-Julesburg Basin to 148,000 gross acres (134,000 net acres).

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