Wexpro enters into JV with Piceance Energy

Questar Corp.’s (NYSE: STR) subsidiary, Wexpro Co., has entered into a joint venture to develop natural gas-producing properties in western Colorado’s Piceance Basin. Wexpro will partner with Piceance Energy LLC, a subsidiary of Laramie Energy II LLC.

Wexpro expects to spend $60 million to $70 million on an 80-well drilling program targeting the Mesaverde formation. The partners will begin drilling in the Collbran Valley in Mesa County in early October, and continue through early 2017. The joint-development agreement also provides Wexpro options to acquire development rights for deeper formations and, with mutual consent, to extend and expand the drilling program up to 300 wells, depending on commodity prices.

 

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

Whitepapers

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...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...