Scandoil  

Escalera Resources enters into Letter Agreement to initiate the development of GTL Plant


Published Jun 6, 2014
Escalera Resources Co.

Escalera Resources Co. has entered into a letter agreement (the "Letter Agreement') to jointly initiate the development, construction and operations of a gas-to-liquids (GTL) plant to be located in Cheyenne, Wyoming (the "GTL Plant").

Escalera Resources Co. ("Escalera" or the "Company") and Wyoming GTL, LLC ("WYGTL") will jointly own Escalera GTL, LLC ("EGTL"), through which the initial phase of the GTL Plant will be executed. Under the Letter Agreement, WYGTL will assign all development and engineering plans, contracts, rights, technical relationships, among other rights (collectively, the "Rights") to EGTL, and the Company will fund up to $2 million to EGTL, subject to Board approval. These funds will be used for feasibility studies and completion of the initial engineering and development plans for the GTL Plant.

The Letter Agreement will terminate within 180 days (or on November 26, 2014) if a definitive agreement between the Company and WYGTL has not been completed.

Tags: Escalera Resources Co.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml