Westmont Resources has signed a memorandum of understanding to acquire oil and gas assets located in the south-west tier of Pennsylvania, US, for an undisclosed sum.
The assets cover a 1km² net area of leasehold in Westmoreland County and includes three producing wells drilled to 250ft and a 6in steel pipe gathering system.
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The firm will also buy 14km² of Marcellus leaseholds in a separate acquisition.
The Westmont Resources portfolio includes the pending development in the Chattanooga Shale region of Tennessee with 92 wells, a 8.2km² area with 68 wells in Pennsylvania, and a 6.6km² lease area with 60 wells in West Virginia.
