The agreement also includes water discharge permits for the property.
The Spotted Horse lease includes 15 drilled wells with three currently producing natural gas.
Upon completion of the purchase, High Plains will begin its recompletion program on the remaining 12 wells in the lease to bring them online within 90 days of closing
There are over 30 additional drill sites within the lease.
High Plains Gas said that this is will be a strategic purchase for the company, as the water discharge permits included in the lease will allow for the purchase of several other fields around the property currently shut due to water discharge limitations.
High Plains Gas is a Gillette, actively engaged in the acquisition, development and production of natural gas primarily in the Powder River Basin.
