PetroShare Corp. (OTC: PRHR) said April 19 it closed on the acquisition of interest in proposed Niobrara and Codell horizontal wells.
The Centennial, Colo.-based company acquired an oil and gas lease in Adams County, Colo., from an independent third-party for an undisclosed amount.
The lease totals about 378 net acres in the Todd Creek Farms Project in the southern end of the Greater Wattenberg Field in the Denver-Julesburg (D-J) Basin.
The acquisition includes an average working interest net to PetroShare of about 20% in 14 fully permitted mid-length Niobrara and Codell horizontal wells. The wells are proposed by one of the most respected operators in the D-J Basin, the release said.
Earlier in April, PetroShare acquired a producing well and associated leases totaling 320 net acres within the Todd Creek Farms Project.
RELATED: PetroShare Buys Wattenberg Leases, Files Niobrara Well Permits
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