Ute Tribe in Utah plans more oil drilling on the reservation
Posted: Thursday, April 21, 2011
The Ute Tribe
announces plans for more oil development on the Uintah and Ouray Reservation in Utah.
The tribe's Ute Energy company entered into a development agreement with Newfield Production Company. The two will explore, develop and market oil and gas on about 19,000 acres on the reservation.
Ute Energy also acquired about 5,300 acres and eight oil wells from El Paso Assets. The tribe plans to drill 54 wells this year alone.
“On behalf of the business committee we are proud to support the growth of the tribe’s company Ute Energy. We believe these two new business agreements will provide new economic opportunities to our existing joint efforts in these areas," Chairman Richard Jenks Jr. said in a press release. "We believe that Ute Energy’s success will position the tribe to realize the vision of taking a more active role in the development of its oil and gas resources in the Uintah Basin and provide long term benefits to the tribe.”
Get the Story:
Company to expand oil drilling in Uintah Basin
(The Deseret News 4/21)
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