Triple Crown Energy has closed a pair of drilling joint ventures with U.S. Energy Development Corporation (U.S. Energy) and Millennial Energy Partners, LLC (Millennial), and plans to drill up to 24 wells on its Kansas acreage holdings in the next 12 months.
'Developing our core Kansas holdings with two experienced industry players brings complementary strengths to the table, and that gives us a competitive advantage in Kansas,' said Chase Williams, a Triple Crown principal. 'Our team performed extensive technical analysis of our assets and, together with our partners, we have developed what we believe are very promising initial drilling locations,' Williams added.
The first joint venture with U.S. Energy features the sale of a 50% working interest on approximately 2,500 net acres in Hodgeman and Ness Counties, Kansas.
'The joint venture with Triple Crown is consistent with our strategy of rapid, prudent expansion across a variety of plays,' said Jordan Jayson, the CEO of U.S. Energy. Jayson added, 'We have great confidence in the Triple Crown team and believe that the partnership with our team will enhance drilling results.'