American Noble Gas Inc. has agreed to acquire a 40% participation in a farmout agreement with an unspecified operator in the Hugoton natural gas field in Haskell and Finney Counties, KS.

The Kansas-headquartered independent exploration and production (E&P) company would join three other partners to explore for and develop oil and gas and brine reserves on the property. The field has a long history of gas production dating back to 1919, but has mainly been discarded as mostly depleted. The E&P thinks there are still resources to be tapped.

“We believe that commercial-level reserves of helium are present in the acreage included in our Farmout Agreement,” said CEO Stanton Ross.

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