NuTech Energy Resources Inc. (OTC: NERG), a natural gas and oil exploration and development company, has entered into an agreement to acquire wells from Emerald Operating Co. and Rocky Mountain Exploration Inc.
The total operation of the fields comprises 74 producing wells, and their underlying lease agreements. Additionally, NuTech will acquire Emerald's minority non-operator interest in 42 of Mountain Hawk Exploration's wells.
Emerald Operating currently has 27 of NuTech Energy's IGOR tools installed on location. Gas from this location is being produced and sold, using NuTech’s patented, proprietary Natural Gas Production Technology, but no production results are available as of yet.
NuTech Energy Resources has developed a patented technology for the production of coalbed methane (CBM) without the need to pump water. NuTech currently operates wells in the Powder River Basin area of northern Wyoming and has commitments to acquire additional wells.