Western Gas Completes Powder River Basin Purchase

Powder River Basin
(Click to Enlarge)
Western Gas Resources last week completed the acquisition of a previously announced agreement to purchase coal bed methane (CBM) properties and related gathering assets in the Big George fairway of the Powder River Basin of Wyoming. The approximately $136.7-million acquisition (before adjustments) was funded with amounts available under the company's revolving credit facility.

Western Gas' partner in the Powder River Basin CBM play has the option to elect to participate in the acquisition for a 50-percent interest, exercisable 30 days after the company has given formal notice of the acquisition. Formal notice is anticipated by Thursday.
Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Administrative Assistant 3
Expertise: Executive|Secretarial or Administrative
Location: Houston, TX
Counsel/Senior Counsel
Expertise: Legal
Location: Houston, TX
United States Houston: Direct Sales Engineering Manager
Expertise: Business Development|Engineering Manager|Sales
Location: Houston, TX
search for more jobs

Brent Crude Oil : $52.57/BBL 1.34%
Light Crude Oil : $48.41/BBL 1.61%
Natural Gas : $2.93/MMBtu 0.34%
Updated in last 24 hours