09 October 2012 12:02 [Source: ICIS news]
SINGAPORE (ICIS)--China’s New Times Energy said on late Monday that it has purchased US oil and gas operating company Tiger Energy, an additional seven wells and 280 acres of land in Utah state of US.
The new acquisition also allows the company to operate its own oil and gas leases in ?xml:namespace>
“In the upcoming months, we plan to work over and re-establish production in over 30 wells, with a goal to reach 1,000 bbl/day of oil production by the end of 2013,” said Stewart Cheng, chairman and executive director of New Times Energy.
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