Sound Oil Signs Gas Sales Agreements
Italy-focused junior producer Sound Oil reported Monday that it has signed two gas sales agreements for gas from its Rapagnano and Casa Tiberi fields. Meanwhile, the firm has agreed to purchase industrial land in the Lombardy region of Italy that will host the drill site for its initial Badile exploration well.
Sound said that it has entered into a 12-month gas sales agreement for Rapagnano with Steca Energia and another 12-month gas sales agreement for Casa Tiberi with Prometeo.
The deal to buy an approximately 637,000-square foot plot of industrial land in Lombardy for the Badile exploration well, as well as follow-on production wells, will cost the firm EUR 1.8 million ($2.3 million).
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