Wyo. Range gas lease buyout planned
Oct 19, 2012 — CHEYENNE, Wyo.—A land conservation group has reached a long-sought agreement with a petroleum company to prevent a controversial gas drilling project inside a national forest by buying out a vast area of federal oil and gas leases in northwest Wyoming.
The Trust for Public Land announced in Jackson on Friday that it plans to pay $8.75 million for nearly 58,000 acres of leases from Houston-based Plains Exploration and Production Co. The deal would end PXP's plans to drill 136 gas wells near the Hoback River headwaters inside Bridger-Teton National Forest.
"We have a deal to save the Hoback!" Deborah Love, the conservation group's Northern Rockies director, said to loud applause.
Never before has drilling occurred in the headwaters of a federally designated Wild and Scenic River such as the Hoback, she said.
More here: http://www.denverpost.com/ci_21705961/ap-exclusive-wyo-range-gas-lease-buyout-planned?IADID=Search-www.denverpost.com-www.denverpost.com
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