Exxel Energy (USA) Inc., the American subsidiary of Exxel Energy Corp., Vancouver, (Toronto Venture: EXX) plans to acquire an undivided 25% working interest in unconventional gas properties in the Piceance Basin of Colorado from Dolphin Energy Corp., a subsidiary of Galaxy Energy Corp., Denver, (Amex: GAX) for $50 million. The property, known as the Rifle Creek project, is in Garfield County, and consists of approximately 6,000 net acres, including three producing wells. The Clough well, operated by Williams, produces approximately 15 million cubic feet of gas per month.
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