By OGJ editors
HOUSTON -- US Energy Corp. and Crested Corp., both of Riverton, Wyo., said their subsidiary, Rocky Mountain Gas Inc., agreed to acquire coalbed methane properties from a nondisclosed party in the Powder River basin of Wyoming.
Terms of the cash-stock deal were not disclosed. The transaction, contingent upon receipt of financing from outside sources, is expected to close before Jan. 30.
US Energy Corp. and its majority owned subsidiary, Crested Corp., are engaged in joint business operations as USECC.