PACO Oil & Gas Inc., an exploration company focused on purchasing under-valued oil and gas leases, has completed negotiations to acquire the McGill gas lease properties located in Oklahoma.
PACO Oil & Gas reports that the property has one gas well in the Rowe Formation that is expected to produce up to 100 mcf of gas per day. The company is currently waiting on completion of highway construction that is adjacent to the McGill gas well. PACO Oil & Gas will then proceed to complete its installation of a pipeline that will deliver the gas to a local main gas collection infrastructure. Management will provide additional details of the McGill acquisition via press release.
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