Powder River Nixes Sawn Lake Plans

Sawn Lake Oil Sands
(Click to Enlarge)
Powder River Basin Gas Corp. said Friday that, after due diligence on the Deep Well Oil & Gas Inc. project in the Sawn Lake Oil Sands Development, it will not pursue the project any further at this time.

Powder River Basin Gas Corp. is currently investigating a different project in the Northern Alberta oil sands, and will publish details of this over the next several weeks.

"After much research and due diligence, Powder River determined that the Sawn Lake project was not the ideal fit either for the Company or our investors and shareholders. We are excited to be pursuing interests in the Canadian oil sands market, and I am confident that we will be able to find something that will compliment our current holdings and our acquisition strategy at this stage of Powder River's development," stated Powder River Basin Gas Corp. CEO Brian Fox.

Powder River Basin Gas Corp. is active in production, acquisition, and marketing of crude oil and natural gas properties.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Well Completions Engineer/Supervisor
Expertise: Drilling Engineering|Fracturing|Petroleum Engineering
Location: Houston, TX
Fracture/Stimulation Engineer
Expertise: Fracturing|Petroleum Engineering|Stimulation
Location: Texas, United States, TX
Reservoir Engineer II Job
Expertise: Petroleum Engineering|Reservoir Engineering
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.68/BBL 0.27%
Light Crude Oil : $49.25/BBL 0.74%
Natural Gas : $3.24/MMBtu 3.18%
Updated in last 24 hours