Freepoint Commodities agrees to acquire interest in 66 Pinedale area natural gas wells
December 14, 2012
Freepoint Commodities LLC, through its subsidiary Freepoint Resources LLC, announced on Thursday, December 13, 2012 that it signed an agreement to acquire sixty-six natural gas producing wells from a subsidiary of Bucking Horse Energy Inc. (TSX: BUC), an exploration and production company. The natural gas wells, located in the Pinedale field in Southwest Wyoming, are Freepoint Resources' first property acquisition in the oil and gas sector. The transaction is expected to close in the first quarter of 2013. Freepoint Resources is Freepoint Commodities' recently established platform for acquiring and operating natural gas producing properties.
About Freepoint Commodities LLC and Freepoint Resources LLC
Freepoint Resources LLC is a subsidiary of Freepoint Commodities LLC, which was founded by former Sempra Energy Trading executives. Freepoint Commodities LLC is based in Stamford, Connecticut and launched multiple platforms in the energy and metals markets starting in March 2011. Management and private equity funds managed by Stone Point Capital have provided the initial equity capital for Freepoint Commodities LLC and its subsidiaries, including Freepoint Resources LLC. Freepoint Resources LLC is based in Denver, CO with offices in California and support functions managed out of Stamford, Connecticut.
Source: Freepoint Commodities LLC, www.freepoint.com