Boyd Energy Corporation Announces Agreement for Lease Acquisition and Development.ARLINGTON, Texas--(BUSINESS WIRE)--Dec. 14, 1998--Boyd Energy Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BECO BECO Boston Edison Company BECO Banana Export Company BECO Bschawrut Enterprises Co. BECO Booster Engine Cut-Off BECO Building Environment Council of Ohio (Columbus, OH) BECO Building Emergency Control Organisation ) announces the successful completion of an 8,000-acre oil and gas lease acquisition in the southern Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. Basin of Caldwell County Caldwell County is the name of several counties in the United States:
The agreement reached between Boyd Energy Corp., and Mega Group, Inc. allows Boyd to begin drilling the first well within 90 days. The total acreage will allow for the development of up to 200 wells. Natural gas reserves in the Devonian Black Shale are estimated at 1 billion cubic feet per well with total depth to the Maquoketa shale at 4,000 feet. Boyd Energy Corp. plans an aggressive development program beginning the first quarter of 1999. |
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