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June, 2005
Galaxy
Energy updates coalbed Methane production in Powder River basin
Denver-based
Galaxy Energy Corp.'s natural gas production from its Powder River
basin (PRB) coalbed methane (CBM) project now exceeds 1.1 MMcf/d
from 37 partially dewatered wells. As dewatering continues and additional
wells are put on-stream, production is expected to rise.
One hundred fifty seven coalbed methane
natural gas wells on its PRB properties are completed, and another
67 are in various stages of completion. Thirty-four additional completed
wells commenced testing and dewatering, and 31 are expected to deliver
gas in the next few weeks. Galaxy recorded natural gas sales revenues
of $111,877 on sales volumes of 28.9 MMcf, compared to zero sales
revenues and volumes in the same period in 2004.
Galaxy Energy's coalbed methane well count in the Powder
River basin (shown here) now exceeds 200.
Dewatering is continuing as more wells go on-stream. (Photo
courtesy Galaxy Energy Corp. and Bill Cooley/Cooley Images.)
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The project
includes the following pipelines: Glasgow and West Recluse - Campbell
County, Wyo.; Pipeline Ridge - Sheridan County, Wyo.; Letier &
Ucross Ranch - Sheridan County, Wyo.; and Kirby Project - Big Horn
County, Mont.
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