NuTech Energy Resources Inc. (OTC: NERG) said Nov. 19 it has entered into an agreement to acquire Powder River Basin wells from Emerald Operating Co. and Rocky Mountain Exploration Inc. The amount of the transaction wasn't disclosed.
The total operation of the fields is comprised of 74 producing wells, and its underlying lease agreements. Additionally, NuTech will acquire Emerald's minority nonoperator interest in 42 of Mountain Hawk Exploration's wells.
The Gillette, Wyo.-based company has set its sights on more than 2,000 wells that have been selected for acquisition over the next six months, the release said.
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