Carbon Natural Gas Buys 2,300 Conventional NatGas Wells in WV

Carbon Natural Gas’ operations

Carbon Natural Gas, an independent oil and gas exploration company which develops and operates oil and gas properties in the Appalachian and Illinois Basin regions of the United States, has just picked up 2,300 natural gas wells in West Virginia for $9 million. The seller was not named in the announcement. One thing we know: These are not Marcellus/Utica wells. They are conventional (shallow, vertical-only) wells. How do we know? They’re only producing a cumulative 9.3 million cubic feet (MMcf) of gas per day. Most Marcellus/Utica wells produce that much in a day or two–by themselves! However, one never knows what mineral rights go along with such a sale. It may be the case (although Carbon doesn’t say) that deeper mineral rights to one day drill in the Marcellus/Utica are part of the deal. Which is why we are highlighting the sale…

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