Denver-based natural gas producer Double Eagle Petroleum has no intentions to drill new wells this year in the Catalina Unit of Wyoming, long one of the company’s prized leaseholds. Instead, the junior independent will focus on lower risk nonoperated projects and review some offers to set up joint ventures, the CEO said Thursday.
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Double Eagle Considering Joint Ventures, Low-Risk Projects
Denver-based natural gas producer Double Eagle Petroleum has no intentions to drill new wells this year in the Catalina Unit of Wyoming, long one of the company’s prized leaseholds. Instead, the junior independent will focus on lower risk nonoperated projects and review some offers to set up joint ventures, the CEO said Thursday.
Industry Brief
With mandated wildlife restrictions lifted, Denver-based Double Eagle Petroleum Co. has launched its Atlantic Rim drilling program in the Catalina Unit in Wyoming. Infrastructure construction has begun with drilling will follow, Double Eagle stated. The company has three drilling rigs contracted and on-site. In this phase of its program, Double Eagle expects to add 24 new producing wells, additional injection wells and expects to finalize the feasibility for the water treatment facility, said Chairman Richard Dole. “The additional injection wells will allow us to put on production the 10 wells already drilled but shut-in due to current water injection limitations,” he said.