MAGNOLIA, Ark. (AP) — A Denver-based energy company says it will invest $80 million this year to drill about 50 natural gas wells in south Arkansas.
Bonanza Creek Energy Inc. says the wells will be drilled in the McKamie Patton and Dorcheat-Macedonia fields, which are located in Columbia and Lafayette counties.
Arkansas Business reports infrastructure projects and saltwater disposal wells will account for an additional $4.5 million of planned capital.
Bonanza Creek has operations in the Wattenberg Field in Colorado and the Cotton Valley sands of southern Arkansas. Bonanza Creek says the Arkansas fields are low-risk and stable, allowing the company to develop the Niobrara and Codell formations in Colorado.
The company says it’s planning to increase its overall production in 2014, producing between 23,000 and 25,000 barrels of oil equivalent per day.
Information from: Arkansas Business, http://www.arkansasbusiness.com