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Questar Receives approval to add natural gas properties under Wexpro II Agreemen


Published Nov 30, 2015
Questar Corporation

Questar has received approval from the Utah and Wyoming public service commissions to include natural gas-producing properties under the Wexpro II Agreement. Regulators also approved changes to the Wexpro cost-of-service model established by the Wexpro agreements.

In December 2014, Wexpro paid $52.7 million to acquire an additional working interest in existing Wexpro-operated wells in the Canyon Creek Unit of southwestern Wyoming’s Vermillion Basin. Wexpro already owned a 70-percent working interest in the properties, and the acquisition increased Wexpro’s ownership interest to 100 percent.

"Adding the Canyon Creek acquisition to Wexpro II increases our low-cost portfolio of Vermillion Basin assets, our most economical cost-of-service area," said Ron Jibson, Questar chairman, president and CEO. "We believe the addition of this competitively priced cost-of-service production and future investment opportunities will benefit both utility customers and shareholders.”

Tags: Questar Corporation




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