First Petroleum Completes Its Property Acquisition Program With the Purchase of Its Final 3 Oil & Gas Leases in Wyoming and Colorado
First Petroleum & Pipeline Inc. has secured the rights to three Federal Oil & Gas Leases in the States of Wyoming and Colorado. Two of the leases are located in Colorado's Piceance Basin and the third lease is situated in Wyoming's Powder River Basin.
Reserves of CoalBeb Methane in the Powder River Basin are estimated at 31.8 trillion cubic feet, making this the largest onshore natural gas play in North America within the last ten years. The U.S. Geological Survey also estimates there is upwards of 21 trillion cubic feet of undiscovered natural gas and 60 million barrels of undiscovered oil in the Uinta-Piceance Basin area as well.
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