Amoco Corp. and Snyder Oil Corp. traded interests in Wyomingproperties to help each company focus its gas operations in theGreen River Basin. Amoco acquired Snyder’s interest in asubstantial portion of the Jonah field in Sublette and Sweetwatercounties. In exchange, Amoco gave Snyder 75% of its interest in theBeaver Creek Unit in Fremont County, WY. Amoco retained 25%interest in Beaver Creek. The deal involved property only.
In 1996, Amoco acquired 50% of Snyder’s interest in the Jonahfield. Now, Amoco has acquired a substantial portion of Snyder’sinterest in key areas of the field. Amoco and Snyder wells recentlydrilled in the Jonah field have initial sustained production ratesof more than 10 MMcf/d. Production in the field is approximately160 MMcf/d gross.
Between September and May, 37 wells have been drilled in theJonah field. “We’ve been stopped by Environmental Impact Statementrequirements from the Bureau of Land Management,” said Amocospokesman John Lloyd. “We just got that cleared up, and we’re goingon with our drilling plan. The current plan is to have 20 to 25wells drilled throughout the remainder of 1998. The net right nowto Amoco in Jonah is 14 MMcf/d, and we expect that to double toabout 28 MMcf/d by the end of the year.” Estimates of reserves werenot disclosed.
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