Greylock Steps Out of Appalachia with Large Uinta, Green River Deals

Greylock CEO Kyle Mork told Hart Energy in an exclusive interview that the company’s oil production will increase roughly 2,000% as a result of the acquisitions.

Greylock Steps Out of Appalachia with Large Uinta, Green River Deals

While the seller has decided to remain undisclosed, “I will say for the seller, I think this was largely a noncore asset. And for us, it's very much a core asset,” Greylock Energy CEO Kyle Mork said. (Source: Hart Energy)

Greylock Energy said March 8 that the company acquired roughly 290,000 gross acres and other assets in the Uinta and Green River basins of Utah and Wyoming from an undisclosed seller.

In an exclusive interview, Greylock CEO Kyle Mork told Hart Energy the expansion, which includes about 1,400 producing wells, will boost the company's oil production from about 1,000 barrels of oil per month in its conventional Appalachia assets to 1,000 bbl/d.

“It’s almost a 30-fold increase and then the wells also produce a significant amount of NGLs, call it 1,500 bbl/d or so of NGL,” Mork said, adding he could not disclose the price of the deal.

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Darren Barbee

Darren Barbee is senior editor for Oil and Gas Investor magazine.