The Moffat Ranch gas field is situated northwest of Fresno, California, and its pipeline quality natural gas is said to be in demand as a preferred fuel in a state that reportedly imports nearly 90% of its needs.
Tri-Valley envisions as many as 25 primary locations for the multiple zones mapped in the nine square mile lease holding that it controls and will rely on its Opus I drilling program to fund the development of the field.
James Bush, Tri-Valley Oil & Gas’s vice president of exploration, said: The development of the Moffat Ranch East discovery and its other zones will be a key contributor to building production, revenue, reportable reserves, share value and drilling partner return, especially as natural gas prices move into the double digits per million cubic feet. We expect to even further expand our pursuit of natural gas drilling opportunities.
