Oil & Gas | Powder River Basin
Geovic Energy purchased a 20% participating interest in three Wyoming Powder River Basin wildcat projects. The prolific Permian Minnelusa Formation was the initial target, where the first hole was drilled in 2009. Results were not sufficiently encouraging to proceed with well completion, and a second neighboring well-site was also cancelled. Geovic is currently in the process of farming out its interest in a third project targeting upper Cretaceous marine sands containing an estimated 14.2 MMBO and 16 BCF gas within the anticipated AMI.