Great Western Petroleum, a subsidiary of Great Western Oil & Gas Co., an affiliate of The Broe Group with active operations in the Denver-Julesburg Basin in Colorado, has purchased approximately 6,000 acres and eight producing wells in the Wattenberg field.
This new asset will allow the company to drill up to 100 new horizontal wells in the Niobrara and Codell formations. It is the second acquisition Great Western Oil & Gas has made during this period of uncertainty for the industry. In January, the company announced it purchased 14 producing wells and 816 net leasehold acres in the Wattenberg field.
The purchase closed June 1, but the production is effective back to Jan. 1. The price and seller were not disclosed.