Junior independent Lexington Resources Inc., which is focused on natural gas exploration in the Arkoma Basin, said Wednesday it more than doubled its drillable land holdings in Oklahoma with the acquisition of 4,600 acres of coalbed methane-targeted natural gas leases. Lexington paid $125,000 toward the farm-out lease purchase of $600,000. Acreage included in the acquisition extends over an area of mutual interest of approximately 24,320 acres. The new leases encompass rights to all possible producing zones to the base of the Hartshorne Coal Formation at estimated depths of approximately 3,000 feet and include a 79.25% net revenue interest and a 100% working interest. With the latest purchase, the Las Vegas-based producer’s land position now totals drillable acreage of almost 9,000 acres.

Atlanta-based GE Energy has completed its acquisition of ChevronTexaco Worldwide Gasification Technology Inc., a subsidiary of ChevronTexaco Corp. GE Energy, a division of General Electric Co., did not disclose financial details. All of ChevronTexaco’s current gasification technology employees have been offered positions by GE Energy, and with most of those employees located in Texas, GE said it would headquarter the business there. The new GE gasification business will be headed by Edward Lowe, general manager of gasification and product line management for GE Energy.

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