Lack of unconventional activity, limited competition, upside potential of oil-heavy asset all factored into Lambda Energy Resources' 'landing' in the Michigan basin

摘要

ACME, Mich.—The lack of unconventional activity, limited buying competition and an oil heavy asset with tremendous upside potential that was actually for sale are just some of the reasons that startup company Lambda Energy Resources pursued and ultimately closed last year on the acquisition of Merit Energy's Michigan oil and gas producing properties, the company's CEO and President Harry Faulkner told a group of more than 180 in attendance at the April 18 Michigan PTTC Field Redevelopment Opportunities workshop at the Grand Traverse Resort.