(Source: Business Wire)
Team
Resources, Inc. announced in January, 2009, that it had purchased
majority ownership in an Interstate Natural Gas Transmission System. The
system consists of over 300 miles of pipeline through four counties and
is located in Kansas and Oklahoma.
"The pipeline system was a very strategic and important acquisition"
says Kevin Boyles, President of Team Resources, as the company plans to
drill 100 wells in this region over the next 4 to 5 years. "We kicked
off our development plan in 2009 having brought on line eight wells in
the system, boosting production volumes considerably. We plan to drill
20 to 25 wells in 2010," Boyles added.
The future planned wells will be drilled in identified proven gas fields
developed previously by Conoco, Texaco and other majors in the 1950's
for the oil, leaving the natural gas behind due to lack of market
demand. Boyles added that "with reasonable acreage and development
costs, coupled with current and future demand, it makes very good
economic sense to develop these reserves today."
Team Resources, Inc. is a Ventura, California based oil and natural gas
operating company founded in 2002. Primary business operations are in
California with production operational offices located in Burden and
Yates Center, Kansas. Team Resources is a "hands on" company currently
operating more than 40 wells with BC Management Services (Team's
production, Operating and Service Company). Additionally, the company
owns its own service rig for better management and operation of its
wells.
A service of YellowBrix, Inc.
