Southwestern Energy Buys Shell and Quicksilver Holdings

oil-and-gas-drilling-300Houston based Southwestern Energy Company has acquired oil and gas assets on land in Moffat and Routt Counties, from Shell and Quicksilver Resources.  Southwestern already has plans to follow-up the purchase with a $50 million program this summer, to drill four vertical test wells and a horizontal well in the Sand Wash Basin.  The company will be looking for oil and natural gas in the Niobrara shale formation.  Shell had said they wanted to sell their interests in much of the area due to a decline in corporate earnings and a desire to focus on other projects with more potential. 

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