Yaterra Ventures, Inc. reported that final terms are being negotiated on a work over lease agreement which includes more than 150 wells on over 1,600 acres of land in Western Pennsylvania, part of the much desired Marcellus Shale which extends throughout much of the Appalachian Basin.

Yaterra execs state that the majority of these wells are production capable but were shut in due to financial constraints of the previous owners. It is noted that these leases are currently producing between 6-10 barrels of oil per day (bopd) and with the initiation of development phase 1, the company is confident is can increase this level to 20-40 bopd

Tags: Inc., Yaterra Ventures