Bridge Updates Idaho Development Plans
Bridge Resources Corp. (TSX VEBTURE:BUK) has announced that its Bridge Energy Inc. subsidiary and Paramax Resources Ltd., each with 50% working interest, have committed to the development of the Willow and Hamilton Fields in Payette County, Idaho.
These two fields were discovered in 2010 and appraised by six additional wells.
Negotiations are proceeding with Northwest Pipeline GP for the installation of a meter station to interconnect this new natural gas supply to the interstate transmission system which will allow access to Idaho’s natural gas customers as well as natural gas markets in the Pacific Northwest. Bitter Creek Pipeline, LLC, a subsidiary of MDU Resources Group (NYSE: MDU) has also commenced design and permitting for the installation of the pipelines and the midstream facilities upstream of the meter station.
Design and planning of the pending stimulation of the four additional Hamilton wells to determine well production rates and optimal pipeline size is complete. These are very small fracs to clean-up highly porous conventional sand reservoirs. The stimulation program is subject to State approval of fracing parameters, which is expected in April, and on availability of equipment which will be contracted once approval is received.
In addition to the work on the Hamilton field, planning and design of the installation of the facilities and the 8.5 mile pipeline to tie-in Willow Field has begun.
Willow and Hamilton are the first commercial discoveries of oil and gas in Idaho. Bridge expresses its appreciation to the State of Idaho and the County of Payette for their support in achieving this goal.
Posted March 18, 2011
