A recently combined and publicly held exploration and development company, Salt Lake City-based Richfield Oil and Gas Co., announced a purchase in the Graham Reservoir oilfield in Uinta County, WY. Richfield bought a shut-in well in the Wasatch National Forest (Well #16-15) from Frontier Energy for $610,000, including 640 acres of mineral leases. The company said the purchase gives it 100% working interest in a mineral lease in the Graham Reservoir, located approximately 120 miles northeast of Salt Lake City in southeastern Wyoming. The well has been shut in since 2003 and was completed in the Dakota Formation at 15,600 feet. Flow testing and production operations will get underway later in the first quarter. For Richfield, which is the product of the merger of Hewitt Petroleum Inc. and Freedom Oil & Gas Inc. in 2011, the acquisition is part of the process of “methodically building our reserve and production base” through graded acquisitions,” said CEO Douglas Hewitt.
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Long Beach LNG Terminal Proposal Stirs Passions Locally
As the Port of Long Beach, CA, 25 miles southeast of downtown Los Angeles, methodically works through the development of an environmental impact assessment, proponents and opponents of a proposed liquefied natural gas (LNG) receiving terminal in the harbor city continued to butt heads last weekend. A neutral city official in attendance said the confrontation was probably a draw in terms of the number of people on each side.
April 7, 2005