Energas Resources reports that it has completed the sale of all remaining Kentucky properties for $2.3 million. Energas did not name the buyer.
Energas Executive Vice President Scott Shaw said the company will now be able to focus on properties in Oklahoma and Wyoming, attempting reentries to "open some zones" that were observed in the current properties.
"We have to pick the low apples on the tree that we can afford," said Shaw. By channeling its energies on the Oklahoma and Wyoming properties, Shaw said that success in those regions would pave the way for future drilling opportunities elsewhere.
Shaw told Rigzone that Energas is currently pursuing one additional property in Wyoming.
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