Idaho gets new player in the natural gas business

The new owners of the wells that put Idaho in the natural gas business revealed themselves this week and promised to drill more wells and invest more money to find more gas.

Snake River Oil and Gas has partnered with AM Idaho LLC, a Texas based exploration & production company, to purchase the assets of Bridge Resources and its former partner Paramax Energy. Bridge, now Idaho Natural Resources Inc. retains some interests in the original seven wells in Payette County that showed the state can produce natural gas commercially.

AM Idaho, a subsidiary of Alta Mesa Holdings, of Houston, will operate the wells.

"This is exciting news for Idaho," Snake River President Richard Brown said. "This acquisition of the productive wells and the thousands of associated leased acres means we can expand our oil and gas exploration program, drill more wells and bring major investments to the region and the state."

Bridge Energy paid all of its bills as a part of larger deal.

The acquisition allows Snake River and its partner AM Idaho to responsibly build the required infrastructure to bring gas to market, they said in a press release. They also will start an ambitious seismic exploration program to analyze the area's geology with the goal of further developing potential additional deposits of natural gas and condensate.

“These newer techniques can get a wealth information that would otherwise require drilling hundreds of holes,” said Virginia Gillerman, a geologist with the Idaho Geological Survey. “And in some cases you couldn’t even get it that way.”

Bridge and Paramax had found gas and condensate, a liquid mix of hydrocarbons, in seven wells it drilled in 2010. But Bridge ran into financial problems when it did not get enough in the sale of much of its North Sea properties to pay off its debt to a consortium of banks led by Royal Bank of Scotland.

That stopped its development cold as Snake River, a subsidiary for Weiser-Brown, an Arkansas oil and gas company was leasing tens of thousands of acres across southwest Idaho.

Maybe Monty

can sign a new lease and get a better deal.

Great

Irreversible damage to the environment here we come... hopefully everybody is aware of what just went on with the Wyoming Governor and the EPA.

Welcome to Idaho... Minerals Mafia, hope your stay is short...

Leroy brother you should cut some wax.

Minerals Mafia

Wyoming Governor

Boya I hada a 'nuf a ya

Irreversible motha*IY&Fu**iya.

? Seismic Searching ?

Didn't they do this 30+ years ago?
I remember somebody doing this all over the valley.

duh

that technology, and the results are about as relevant today as the "rich Corinthian leather" in your Chrysler Cordoba. Just go back to your TV now and find your reruns of Fantasy Island.

Rocky's photo

Rocky, I've waited for a good time to offer this observation and the article's headline is the perfect set up.

The look on your face in the photo is exactly the same face a buddy of mine makes just before the edge of the f a r t cloud hits you.

Judging from experience, that's a Jim Force 9 face - near lethal potency with an 'in the car' modifier.

chickens and eggs

5/4 Rock's headline:
Idaho gets new player in the natural gas business

And it says, SRO&G partnered with AM Idaho to purchase the assets of Bridge Resources and its former partner Paramax Energy. Bridge, now Idaho Natural Resources Inc.

on 5/7 Rock's headline:
Bridge Energy morphs into Idaho Natural Resources
(after correcting his initial bad spelling).

***
Seems like the 5/7 blog is late.

Not to mention, Bridges Resources and Paramax Energy were not partners. In 2009, Bridges BOUGHT 100% of Paramax Energy. Paramax Energy was a subsidiary of Paramax Resources. Bridges Resouces and Paramax RESOURCES were the partners.

***

And who exactly is the new player, Rock?
This post certainly doesn't identify it.

***
Bottom line- this topic is too complicated for you to explain it to anyone Rocko.