Pacific Energy Acquires Interest in Utah Field
Pacific Energy & Mining Company has acquired a 50% interest in the Squaw Canyon Field in San Juan County, Utah. The wells are in the process of being put on production. The field produces from the Desert Creek formation. The Company is in the process of conducting a geological and engineering study to determine development potential of the reservoir.
Pacific Energy & Mining is a diversified company with oil and gas interests in Utah through its current acquisition of the assets of Colorado Utah Natural Gas, Inc., a 7% working interest in the Brennan Bottoms Oil Field in Uintah County, Utah, and a 50% revenue interest in the Cisco Springs Oil Field in Grand County, Utah.
Additionally, the Company owns a 16.67% interest in Mar/Reg Investments, a General Partnership, through which it holds working interest in oil wells in Altamont Bluebell Oil Field in Utah and interest in numerous non-operated oil and gas wells in Oklahoma.
Pacific Energy also owns 80% of the outstanding shares of Pakistan Chrome Mines Ltd., a mining company with interests in over 34,000 acres of chromite and magnesite leases in Baluchistan, Pakistan. The leases mineral reserves contain an estimated 4 million tons of chromite and magnesite.
- QEP Wraps Up Ops at Johnson Bottom HZ Well (Nov 19)
- Questar Turns on Taps at Johnson Bottoms Unit Well (Dec 23)
- Questar Commences Drilling at Johnson Bottoms Unit (Nov 06)
Company: Colorado Utah Natural Gas, Inc. more info
- Pacific Energy Acquires Properties from Colorado Utah (Apr 11)
- Pacific Energy Acquires Interest in Utah Field (Mar 06)