By OGJ editors
HOUSTON, May 23 -- Teton Energy Corp., Denver, has acquired 100% interest in 6,250 acres in the Big Horn basin in Wyoming, and is set to close on the purchase of an additional 5,750 acres there by June 6.
The company intends to operate the acquired acreage and has plans to continue building the acreage position over the next quarter and to drill at least one well by yearend.
In this acquired play, the Greybull and Peay formations are conventional oil and gas targets and the Mowry Shale is an unconventional horizontal gas target.
Teton currently holds 6,314 gross acres in the Piceance basin, 266,572 gross acres in the Denver-Julesburg basin, and 87,032 gross acres in the Williston basin.
