Wyoming

Following its success in the San Juan Basin CBM development, Palo leased approximately 20,000 acres in the Powder River Basin of Wyoming. Palo drilled approximately 60 wells in the Northeast Spotted Horse Project, Campbell County, WY. This project was sold to StormCat Energy (USA) Corporation, a publicly traded Canadian company, and StormCat has drilled an additional 60+ wells in the field. Palo retained an interest in this shallow coalbed methane field. Palo and its partner, SG Interests of Houston, TX, assembled the Pumpkin Creek Prospect containing over 10,000 acres of leases in the Big George CBM play in Johnson County, Wyoming. This project was acquired by Williams Production and Lance Oil & Gas Company. Approximately 100 very successful CBM wells have been drilled on the Pumpkin Creek Prospect to date, and Palo retained an interest in this project. 

 

Palo is currently working on a large divestiture package of all of its remaining Powder River Basin interests that should be available for review by the end of 2019.  We are in the proccess of identifying all of Palo's remaining State, Federal and Fee HBP interests with deep right potential below the coal formation in core areas of Johnson and Campbell County, WY that will be included in this pending sale.