Escalera extends LOI agreement to explore developing GTL plant

Escalera Resources Co.

Escalera Resources Co. reports the extension of its initial letter agreement with Wyoming GTL LLC (WYGTL) to jointly explore the feasibility of developing a gas-to-liquids (GTL) plant to be located in Wyoming. This extension allows for Escalera and WYGTL to continue to perform the detailed engineering, operations, construction, supply, and related due diligence required to reach a definitive agreement.

The letter agreement will terminate on Jan. 31, 2015, if a definitive agreement between Escalera and WYGTL has not been executed. Pursuant to the original agreement executed on May 30, none of the terms or conditions has changed. In the event a definitive agreement is not executed within the required period, WYGTL will reimburse the company for any portion of the initial study capital previously funded to WYGTL.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...