Henderson, NV (PRWEB) December 01, 2011
Leland Energy, Inc., through its subsidiary Leland Colorado Holding, Inc., announces it recently finalized a Farm-out agreement for 5 locations in Weld County, Colorado. Leland is excited about its ongoing drilling activity in the Wattenberg Field. The additional locations are near the town of Windsor, Colorado, approximately 7 miles west of the initial drilling and completion of their first 4 wells.
“Competition for leases in the area is very strong. Even the Chinese government is aggressively competing for oil, gas, and mineral rights, in this field,” said Leland’s VP of Client Relations, Lon Stein. “So we are more than pleased to have finalized this agreement,” he added.
Leland will target the Niobrara and the Codell formations in this field. Colorado’s Denver- Julesburg (DJ) basin is highly prolific and very active with operations from major producers such as Chesapeake Energy Corp, Noble Energy, Inc, and Anadarko.
“We are fortunate to be drilling off-set locations to such big players, and Anadarko’s recent success in this field only confirms our assessment of this area over the last few years,” said Mr. Stein referring to Anadarko’s November 14, 2011 press release announcing their success in the “liquid-rich” horizontal Niobrara and Codell that reported:
“Anadarko’s best horizontal well to date, the Dolph 27-1HZ , demonstrated an initial production (IP) rate of more than 1,100 barrels of oil per day (BOPD) with more than 2.4 million cubic feet of natural gas per day (MMcf/d), resulting in an estimated EUR of better than 600,000 BOE.”
Leland utilizes directional drilling, which will capture some of the benefits derived by the horizontal drilling technology. “We are 4 for 4 on our last drilling program(s) and with some of the new technology, we believe we can add significantly to our daily production and our reserve base,” said Mr. Stein.
In addition to Colorado, Leland has operations in Tennessee and Kentucky and is headquartered in Henderson, Nevada with an administrative office in Beverly Hills, CA. For additional information, call 1-888-LELAND-1 or visit http://www.lelandenergy.com.