Resolute buys share of natural gas and oil wells - Denver Business Journal:

axilecyqih.wordpress.com
Resolute is based in Navajo Nation Oil andGas Co. is based in Window Rock, Ariz. Sale termzs weren't disclosed. The companies bought the assetsw in the Greater Aneth Field in Utahfrom , basexd in San Ramon, Calif. The assets include a 70 percent workintg interest in theAnetnh Unit, smaller interest in other units as well as ChevronTexaco's interest in the area' s gathering system of pipelines and a gas plant. The Aneth Unit contains 145 active wells and 120 activwinjection wells. Resolute acquired 75 percentr of the ChevronTexaco assetz and NNOG acquired25 percent. Resolute has assumed operationzs of the Aneth Unit and thegatherinb system.
Resolute and NNOG intends to work cooperatively with the Navajo Nation and local communitiese to expedite responsible development ofthe field, the companiesz said. NNOG is 100 percent owned by the Navajo with the primary purpose of acquiring ownershipo and operation of energy resources onNavajo lands. In addition to its ownership of non-operated producingv properties, NNOG operates six retail facilities and has crudre oil pipeline assets andexploration acreage.