CanScot adds to U.S. coalbed methane holdings in Wyoming

Gary Park, Petroleum News Calgary correspondent

Calgary-based minnow CanScot Resources has enlarged its footprint in Wyoming’s Powder River basin, the second largest source of coalbed methane in the United States.

Through its wholly owned U.S. subsidiary Tika Energy, CanScot paid $800,000 to boost its working interest in the Big Bend area of Johnson County, Wyo., to 78.3 percent or 6,540 net acres, from 25 percent.

Tika has participated in more than 80 coalbed methane wells since 1999 in a basin that produces 950 million cubic feet a day.

As operator, it plans to drill eight wells this year on some of the 90 potential development sites it has identified at the Big George coal seams that are east of Big Bend, where the seams are 50 to 80 feet thick at depths of about 1,200 feet. Big George wells average 300,000 cubic feet a day.