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Show Page The National Enterprise, April 21, 1976 Ten Energy Minerals Increases Holdings with Acquisition Superior Oil Company. It is DENVER, Colorado--Energ- y felt that this well bypasses Minerals Corporation several shallow gas zones. In (OTC 1.125, 1.20) has an addition, this unsuccessful nounced the acquisition of test did not penetrate the Pinedale Corporation of New deeper Frontier, Nugget, York City for a one year Phosphoric, Tensleep, and $96,000 note convertible into Madison formations, which 100.000 shares of Energy are the proven producing formations in Wyoming. Minerals common stock. In 1959, Reasor Drilling Weldon Julander, president of Energy Minerals, said Company drilled another well Pinedales assets consist of on the same structure which interests in approximately tested 750,000 cubic feet of 160.000 gross acres of oil and gas per day. A third well, gas leases in three areas of the drilled by Terra Resources Green River Basin of Wyom- Corporation in 1975, tested ing and the Piceance Basin of the Ericson formation at a Western Colorado. depth of 13,500 feet on -- the James H. Petersen, vice same structure. This test ran president of exploration, 220 feet structurally high to noted that in the Green River the Reasor well. Rainbow Basin, the acreage is concen- Resources, Inc., of Casper, this trated on the Merna Prospect Wyoming, will where Belco Petroleum Cor- well within a few weeks, and poration has reached a total will attempt completion of depth of 18,124 feet and is equivalent sand zones that setting pipe. Pinedale Cor- appeared to be productive in poration has a royalty interest the Reasor test. Energy Minconvertible to a 2.8 percent erals Corporation will have a carried interest in this well 9.23 percent working interest and also the surrounding in this Also to be acquired in the 20.000 acres. Pinedale Corporation, in Pinedale purchase will be a addition, owns an 8.23 percent 110,000 acre block in the interest in approximately Sublette Flats area of the 26.000 gross acres on the Green River Basin where Pacific Creek and North Paci- Davis Oil Company . recently fic Creek structures. The Pa- completed two tests. Evaluacific Creek structure is a very tion of both of these wells is large anticline covering more currently' being conducted to than 22 sections and was see if other drilling may be originally drilled in 1949 to a warranted. The remainder of depth of 20,521 feet to the top the acreage to be acquired in of the Frontier Formation by the Pinedale purchase is a 10,000 acre block in the Rio Blanco Unit and a flank of the Piceance structure in the Piceance Basin of Western Colorado. reserves: 1,992,627 BO. Energy Minerals is currently accelerating develope ment drilling in the Includes 1,957,893 MCF gas converted to 562,332 barrels of area where the oil. Includes 2,000,000 MCF gas converted to 140,000 company plans to drill approxPetersen said Energy barrels of oil. imately 14 new development Minerals Corporation is curAt the present time, wells. Also, seven previously rently producing 600 barrels of Energy Minerals is packaging drilled wells will be perforated oil per day and 4 million cubic a $4 million drilling program in new pay zone areas in the feet of gas daily. At the to be sold to industry partici- Spindle Singletree area. Petersen also said that present time the company is pants. This program will entail beginning to sell additional $1 million of exploratory dril- Energy Minerals will have a gas from the Spindle field in ling and $3 million in develop- royalty or carried working Northern Colorado, which will mental drilling. Energy Min- interest in approximately 10 to increase daily gas production erals will contribute the 13 wildcats on 179,000 acres to 9 million cubic feet of gas acreage to the program in that were recently acquired. per day. Energy Minerals is return for the funding of the These wildcat tests are located currently averaging $12 per drilling. Initial contacts have in Montana, Wyoming, Colorbarrel iii oil sales and 82 cents been made, however, no deal ado, and Kansas and are scheduled to be drilled in has been made thus far. per MCF in gas sales. 1976. Julander said that daily oil and gas sales will approximate $14,000 per day once the increase in gas sales is put into effect. Currently, Energy Minerals is averaging about $11,000 in oil and gas sales per day. Also announced today were oil and gas reserves for New OH and Gas Drilling Scheduled in Southeastern Utah Energy Minerals Corporation. They are as follows: Skelly Oil Company, Casper, Wyoming, will drill a new exploratory oil and gas test well in southeastern Utahs San Juan County about 20 miles east of Blanding notes Carlton Proven working interest resStowe, mineral specialist, Utah Geological and Mineral Survey. erves (evaluated by an indeThe well, the No. 1 Lake Canyon (sec. 6T. 37 S., R. 26 E.) is pendent petroleum engineer): just northeast of the Montezuma Canyon area in the Aneth 1,182,627 BO. Proven royvicinity. alty interest reserves: 200,000 Skelly Oil, meanwhile, has commenced drilling operations at BOM Proven developed workanother well, No. 1 Cowboy West, about six miles northeast of ing interest reserves: 510,000 town of Bluff. It is scheduled to at least 5,900 feet and is a BO. Proven undeveloped the little more than three miles southwest of the Cowboy oil field. royalty interest reserves: In other activity, the Division of Oil, Gas and Mining Total proven 100,000 BO. approved three new well locations for Superior Oil Company in developed and undeveloped the Aneth area. The McElmo Creek wells are scheduled to about 5,630 feet for tests of the Desert Creek formation. In Grand County, Reserve Oil and Gas Company, ,Denver, has scheduled a 9,000 foot test well in the Salt Wash area. It is a mile north of production in the field. A new well is to be drilled in the Natural Buttes area southeast of the town of Ouray in Uintah County. It is the No. 19 Natural Buttes, projected to a depth below 9,200 feet. the investors and brokers. There, the firm has leases on DENVER, Col- .- Century 1,600 acres where it plans a 7,000 foot test of the Dakota Oil and Gas Corp (OTC .11, sandstone. Chuman said that .14) today announced the the firms Ritthaler prospect is acquisition of an overriding e near production from Coyote royalty interest in a tract of land Creek and South Coyote Creek privately-owne- d formations. The firm wants to in the Ryckman Creek Area of Uinta County, Wyoming. World operated from 1911 to 1944 SPOKANE, Wash. keep a 25 percent carried when it was abandoned for Service and Investment CorpRaymond Jacoby, president interest in that prospect. oration (OTC 1.00, 1.50) has economic reasons, holds apindepenAnother test well is planned of the Denver-base- d reserves of on the firms Cave Gulch dent oil and gas exploration announced the acquisition of proximate said the acreage is two 60 percent of the common 8,100,000 tons. Mining plans prospect in Natrona County, firm, miles north of the recent stock of American Coal Com- are currently under considerWyoming, he said. That well ation and mine development is prolific discovery well now pany of Casper, Wyoming. is planned to 3,500 feet. being deepened by the Amoco American Coal will operate as expected to commence once Production Company, Cheva subsidiary of World Service, the project financing has been Failures, Too ron Oil Company and Champ-li- n according to William L. Camp- completed, said Campbell. World Service and Investment Oil Company. bell, president of World. Bronco has also had some is American Coal Company Corporation is a Spokane Jacoby said this well failures. According to Chuman reported to have uncovered an presently owns 35,000 acres of based diversified holding conthere wasnt enough porosity oil and gas bearing zone more coal leases in Wyomings cern with mineral and oil and and permiability for producthan 500 feet thick in the Powder River Basin, Campbell gas properties in five western tion on the companys North-- ' Nugget Formation which has said. The most promising states. World Service and its east Kitty prospect in Camptriggered an unprecedented holdings are the Sandhills subsidiary WSI Restaurants, did well bell County, but the exploration boom in western Coal Property and the Rosin Inc. are negotiating on various encounter the sands that were Wyoming, eastern Idaho and Coal Mine located in Converse real estate, manufacturing and leisure time enterprises northeastern Utah. County, Wyoming, he added. expected. The company sold its Flag He said three wells are now The Sandhills Coal Property in the Inland Empire area of Overlocated in the Glenrock Coal Washington state. Butte prpspect in Crook drilling in the 10 least at World Service underwent a thrust Belt and Field, near the Pacific Power County, Wyoming to Fred Goodstein of Casper, Chuman additional well locations have and Light. Companys coal op- management change in March said. A test well was drilled in been staked or announced. eration, has computed reser- of this year and moved its February, but it encountered Although the interest we ves of approximately 180,000 corporate office from Salt Lake water and had to be plugged. tons of coal in the Badger and City to Spokane. The comhave acquired must be consifeel it has School Coal seams, with an pany at that time also reBronco would have earned an dered as wildcat, we in interest for production. average thickness of 18 to 35 scinded its acquisition agreeoverriding royalty great potential the well in addition to the cash We believe that the oil and gas feet at a depth of 100 feet from ment with HMW Minerals it received for packaging the reserves to be found in this the surface, Campbell reports. Corporation. area will, be substantial. The Rosin Coal Mine, prospects. Spindle-Singletre- re-ent- er re-entr- y. Bronco Unveils Plans continued from page 9 of oil a day, but with the four new wells and sand fracturing, production was increased to 50 barrels of oil a day. Posted price for oil from the Blaine lease is $1 1 .30 a barrel, Chuman said, and the company has a 37.5 percent interest in the sells. Other Prospects The company presently is working to put together a $1.5 million fund to drill some of the prospects it has worked up, Chuman said. And, it is actively working on other properties. He said that Bronco has leases on 1 ,275 net acres only from a recent a half-mil- e discovery well by Anschutz Corp. of Denver in the northern Powder River Basin in Wyoming. The discovery well was completed in the Muddy sand and currently is producing 198 barrels of oil a day. An agreement has been signed with Exeter Drilling and Exploration of Denver for a test of the firm's Wildhorse prospect in Campbell County, Wyo. The well will test the Muddy sandstone, Chuman said. Another of the companys leaseholds is in Weston County, Wyo., Chuman told Oil & Gas News Century Oil Gets Into Overthrust Play 960-acr- World Service Sweeps Up Leases in Acquisition -- so-call- ed |