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Tuesday, 07 October, 2008, 14:40 GMT | more prices >>

Universal gets taste of Caviar



By Upstream staff 

Universal Energy is to farm into Yuma Exploration & Production's Caviar prospect in Plaquemines Parish, Louisiana.

Universal said it would participate in Yuma's plans to drill 9000 to 11000-foot wells targetting the Middle Miocene trend.

Universal chief executive Billy Raley said in a statement the move continued the company's policy of buying up low-risk oil and gas rights that offset existing production.

Exact terms of the agreement with Yuma were not disclosed.

Universal owns assets in Alberta and south-eastern Louisiana.


Thursday, 12 April, 2007, 16:07 GMT  | last updated: Monday, 16 April, 2007, 03:11 GMT

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