The company has also acquired a 700-acre lease from Knox Gas for the future development of additional gas wells.
Next Generation Energy CEO Darryl Reed said that the company now owns a lease of 100 acres, containing five drilled wells, a lease of 20.2 acres, containing two drilled wells, and a lease of 400 acres with three drilled wells.
"We anticipate that the wells will be online and producing gas within the next several months," Reed said.
