Galaxy boosts CBM position in Wyoming

Ray Tyson

Petroleum News Houston correspondent

Small exploration and production company Galaxy Energy, through its subsidiary Dolphin Energy, said April 5 that it acquired an additional 35 percent working interest in coalbed methane properties at the 3,200-acre Buffalo Run prospect near Sheridan, Wyo.

The acquisition provides Galaxy with a 100 percent working interest on its portion of the property, giving the company a 100 percent working interest in the 44 existing wells. Additionally, the company said it acquired another 26 percent working interest in about 323 acres of the Buffalo Run East lands.

The acquisition price for the additional working interests on both properties was $592,500, Galaxy said.