Indigo-Energy to Acquire Gas and Oil Leases in Illinois Basin
Posted on: Thursday, 8 May 2008, 09:01 CDT
Indigo-Energy has signed a letter of intent to acquire approximately 106,000 acres of gas and oil leases in the Illinois Basin.
The properties are located in southern Illinois, southwestern Indiana and western Kentucky; this transaction will also include the acquisition of a natural gas processing facility in southern Indiana.
Steve Durdin, CEO and president of Indigo-Energy, said: "These leaseholds are a key acquisition for us, and we plan to fully develop the natural resources historically abundant in this region. As a result, we anticipate building what we believe will be oil and gas drilling and production operation.
"By utilizing the cutting edge technology along with terrific field expertise, we believe that these resources can be recovered much more efficiently and economically than in years past."
Source: Datamonitor
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