BOISE – The new owners of natural gas wells in western Idaho plan to spend more and drill more to find more gas in the state.
“This is exciting news for Idaho,” Snake River Oil and Gas President Richard Brown told the Idaho Statesman in a story published Saturday. “This acquisition of the productive wells and the thousands of associated leased acres means we can expand our oil and gas exploration program, drill more wells, and bring major investments to the region and the state.”
The company is partnering with AM Idaho LLC, a subsidiary of Texas-based Alta Mesa Holdings.
The companies recently purchased the Idaho gas wells from Bridge Resources Corporation and its partner, Paramax Resources Ltd. Those companies in 2010 produced what appear to be commercially viable natural gas wells after drilling 11 wells in Payette County.
The new owners plan to use advanced technology that allows geologic mapping of the region to find more natural gas. Continue reading