The company has also acquired 11 square miles of three dimensional (3-D) seismic data for the project area.
The company said that the seismic information will enable the company in selecting future well locations on its property leases.
The company anticipates spending $280,000 for the entire 2-D seismic program and anticipates the data will prioritize more than 30 possible well locations on the current well super pad.
The company has also assumed operations of the project from joint venture partner Vantage Energy.
Nextraction and Vantage share ownership in 2,600 acres of the Pinedale project leasehold and Nextraction owns 100% interest in an additional 1,174 acres, capable of supporting up to 31 additional wells.
