One-Page Deal Sheet
Wexpro Inks Piceance JV with Laramie Energy
Questar Corp, Wexpro Company Laramie Energy II LLC
Announced Date
September 23,2015
Transaction Type
JV
Enterprise Value (EV)($MM)
70
Asset/Basin:
{"Piceance Basin"}
TargetZones:
{Mesaverde}
Transaction Details: Require Private Equity Subscription
Questar Corporation announced that its subsidiary, Wexpro Company, has entered into a joint venture to develop natural gas-producing properties in western Colorado’s Piceance Basin. Wexpro will partner with Piceance Energy, LLC, a subsidiary of Laramie Energy II, LLC, and a leader in developing low-cost drilling and completion strategies in the basin.
Wexpro expects to spend $60 million to $70 million on an 80-well drilling program targeting the Mesaverde formation. The partners will begin drilling in the Collbran Valley in Mesa County in early October 2015, and continue through early 2017…
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