Atlas to pursue New Albany shale in Indiana

11/17/2008
Atlas Energy Resources LLC, Pittsburgh, plans to drill more than 100 horizontal wells to Devonian New Albany shale in southwestern Indiana by the end of 2009.The company has acquired 114,000 net acres and has taken a farmout on 78,000 net acres from Aurora Oil & Gas Corp., Traverse City, Mich. The combined transactions give Atlas rights to 284,000 largely contiguous gross acres in the Illinois basin, mainly in Sullivan, Knox, Greene, Owen, Clay, and Lawrence counties, Indiana.Drilling is to start in 2008, with Atlas Energy using capital from its syndicated oil and gas investment programs. The total acreage contains about 800 horizontal drilling locations.The farmout requires that Atla...
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