The land additions represent a 38% increase in Richard's net land base.
Interests range from 20% to 37.5% in a gross acreage package comprising 38 sections (24,320 acres gross) of land (6539 acres net).
Subject to rig availability, the agreement calls for the drilling of four coal bed methane (CBM) wells before the year's end.
Richards said it expects drilling to kick off in September.
