US Energy Corp. Subsidiary Begins Coalbed Methane Drilling Program in Powder River Basin

摘要

US Energy Corp. and Crested Corp. announce that their Rocky Mountain Gas Inc. (RMG) subsidiary, Riverton, WY has commenced the drilling of developmental coalbed methane (CBM) wells on company's properties in the Powder River Basin in northeastern Wyoming. RMG currently holds 22 drilling permits on the properties and has surveyed and applied for an additional 32 permits within the project. CCBM Inc., a wholly owned subsidiary of Carrizo Oil & Gas Inc., Houston, TX, is funding the initial phase of this drilling program pursuant to an agreement between the parties dated July 10. RMG is the operator for the project.Peter G. Schoonmaker, president of RMG, said, "Location of the initial wells was influenced by their proximity to gas transmission pipelines and successful wells on nearby properties. Target depths for the initial wells will range from 400 to 2,000 feet below the surface."