Thursday, April 21, 2011

Company to expand oil drilling in Uintah Basin

An energy company owned by the Ute Indian tribe announced an agreement Wednesday to expand oil drilling in the Uintah Basin. The Rocky Point Exploration and Development Agreement will allow Ute Energy and its partner Newfield Production Company, to explore, develop and market oil and gas from an additional 19,000 acres on the Uintah and Ouray Reservation located in northeastern Utah, stated a press release from Ute Energy.

The acquisition complements 26,300 acres of Ute Tribal lands, allotted lands and fee lands previously acquired and provides up to 132 additional drilling locations based on 40 acre spacing. Ute Energy plans to drill 54 wells in 2011. Deseret News