BOSTON, Oct. 28, 2010 (GLOBE NEWSWIRE) -- Globalequityreport.com announces an investment report featuring High Plains Gas Inc. (OTCBB:NXPN). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you should know before you make an educated investment decision.
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High Plains Gas, Inc. (HPG) procures, produces and markets natural gas (Methane) from the Powder River Basin in Central Wyoming. Through its solid foundation and experience in the region, HPG will pursue expansion plans both within the Basin and across the region. HPG currently maintains five active leases; Stone Pile, Reeves, Foundation Pod, RAG Pod, Mills, Grams and the Dry Fork Lease. Each lease contains several wells ranging in development from newly drilled to producing wells. HPG has maintained a 98% success rating across all current wells by managing geological surveys, knowledge of coal-washouts and sour methane treating techniques.
The Company maintains 58 producing wells. 33 of the 58 producing wells are selling marketable natural gas. Until recently, the majority of those wells were not connected to a transmission line. By the end of 2011, all producing wells will be connected to the HPG infrastructure. As new wells are drilled, they will be connected to the HPG infrastructure within 30 days of completion.
HPG maintains growth as a core value. To achieve its growth plans, HPG owns an inventory of gas related equipment and material. Current average well depth is approximately 280 feet. At this depth, HPG owns sufficient well casing to cover 20 wells. HPG also owns 36 additional well site equipment packages. Additionally, HPG has an inventory of eight miles of 8 inch transmission line. This material, when combined with the infrastructure installation equipment provides a visible asset base to allow HPG to continue to grow production and revenue.
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