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Recovery Energy Expands Holding In Colorado, Wyoming

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(credit: Recovery Energy)

(credit: Recovery Energy)

GREELEY, Colo. (AP) - A Denver-based energy company is expanding its oil and gas holdings in northern Colorado and Wyoming.

Recovery Energy announced Monday that it is acquiring leases on about 16,300 acres, including 1,700 acres in Weld County, for a total of $14.2 million.

The Greeley Tribune reports that Recovery Energy will now become one of the top 10 acreage holders in the Denver-Julesburg Basin.

The expansion includes 8,060 acres near Chugwater, Wyo. in the Niobrara shale formation. The purchase of leases from Wapiti Oil & Gas is expected to close Friday.

Recovery has also purchased leases on about 6,600 acres in Goshen County, Wyo.

(Copyright 2011 by The Associated Press.  All Rights Reserved.)

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