Westmont Resources Sells Gold Mines to Pursue Bigger Pot of Gold in the Marcellus Shale
Westmont Resources, an independent oil and gas production company with headquarters in Bellevue, WA, just sold off their Canadian gold mining properties so they can concentrate on oil and gas drilling in the U.S., particularly in the Marcellus and Chattanooga Shale plays.
Westmont’s portfolio includes…joint ventures developing two significant blocks in the Marcellus Shale region including, 1,800 lease acres in Western Pennsylvania and 1,650 lease acres in West Virginia. “This is a strategic step toward extending our Marcellus natural resources operations and it’s the right time because recent advances in our technology and continued enhancements will improve margins and profitability in our shale oil and gas properties,” [said Westmont Chairman Dr. Bruce Fischer].*