By OGJ editors
HOUSTON, Dec. 16 -- Superior Oil & Gas Co., Yukon, Okla., will pay Foster Oil & Gas 300,000 shares of stock to acquire 28 natural gas wells in the Cherokee basin of southeastern Kansas and northeastern Oklahoma.
The wells, in the Chautauqua, Montgomery, and Elk counties, produce conventional gas and coalbed methane. Nine currently produce at a combined rate of 110 Mcfd. Three await installation of pump jacks. The remaining 16 producers, shut in earlier due to low gas prices, require workover.
