Infinity Inc., the largest oilfield services company in easternKansas and northeastern Oklahoma, and an emerging independent oiland gas producer, acquired a 100% working interest in an additional4,775 acres in Wyoming’s Green River Basin. The new acreage isadjacent to the recently announced property acquired by Infinityand gives the company an interest in a total of 20,595 gross acres.
“This new acreage is an excellent addition to the property werecently acquired. We will be able to develop all the acreage as asingle project, thereby maximizing the economics of bothproperties,” said Infinity CEO Stanton E. Ross. “The new acreage issomewhat different in that the coals lie somewhat deeper, atbetween 2,000 and 2,500 ft. However, the surface terrain of theadditional acreage is more easily accessible. This factor shouldoffset the increased depth of the coals in terms of the overalldevelopment costs and timing of development.”
The acquisition is being funded from existing lines of credit.
The company said the two parcels will be developed as a singleproject. As previously announced, Infinity expects to begin a pilotdrilling project in the fourth quarter of 1999 and begin full-scaledevelopment of the property by the second quarter of 2000. Assumingfull development, the additional acreage should support up to 30production wells when fully developed, resulting in a potentialtotal of 130 wells.
Infinity provides well-enhancement, fracturing, cementing,acidizing, nitrogen pumping and other related services. It also isinvolved in oil and gas exploration, development and productionactivities. The company operates primarily in Kansas and Oklahomawith a growing presence in Wyoming.
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