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Altamont

The Uinta Basin, located in northeastern Utah is made up of naturally fractured, tight oil sands with multiple zones. Our operations in the Basin are focused on developing the Altamont Field (including the Altamont, Bluebell, and Cedar Rim fields), which is the largest field in the basin. We own 173,110 net acres in Duchesne and Uinta Counties.

Our current activity is mainly focused on the development of our vertical inventory on 160-acre spacing. We have identified an inventory of 1,126 drilling locations, including 776 vertical locations and 350 horizontal locations. The industry is currently piloting 80-acre vertical downspacing programs in the Wasatch and Green River formations and horizontal development programs in the multiple shale and tight sand intervals. Because our acreage in the area is largely held-by-production, if these programs are successful, it will result in additional vertical and horizontal drilling opportunities that could be added to our inventory of drilling locations.