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Northern Ute Tribe launches oil and gas company

The Northern Ute Tribe of Utah launched an oil and gas company on Thursday, announcing plans to drill on 236,000 acres of the Uintah and Ouray Reservation.

The tribe has allowed development of the reservation and has taken a royalty from drilling companies. But by forming Ute Energy LLC, the tribe is taking control of its own resources, officials said.

Ute Energy has a four-year plan to expand drilling. The tribe hopes to have 60 producing oil and gas wells by the end of this year, double the 30 wells currently in operation.

Get the Story:
Utes to drill for oil in Uinta Basin (The Salt Lake Tribune 10/28)
Tribe Forms Ute Energy to Develop Reservation Energy Resources (AP 10/27)

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