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Tuesday, 02 December, 2008, 22:10 GMT | more >>

Avalon takes a stake in Grace



By Upstream staff 

Avalon Oil & Gas has bought a 2.5% working interest and 1.88% net revenue interest in the Grace-2 well in the Viola Limestone prospect in Oklahoma.

The well, which is operated by Bedford Energy, is producing 350,000 cubic feet of natural gas per day.

Details of the deal were not immediately available.

Reserves from Grace-2 are estimated at 59,300 barrels of oil and 148.25 million cubic feet of gas.

Avalon added it is looking to boost its stake in the well and in four other producing wells in the East Chandler prospect.


Tuesday, 10 June, 2008, 15:29 GMT  | last updated: Tuesday, 10 June, 2008, 16:43 GMT

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