The move signaled another retreat from climate change action after the Trump administration in March halted an effort to gather methane data from existing oil and gas operations to rein in leaks.
Excluding this transaction, Strata-X owns a 100% net working interest in oil and gas exploration rights on 49,200 net acres covering the Vail Oil Project in the Illinois Basin.
Upon completion, the Denver-based company will have 100% of 72,795 net acres in the Illinois Basin.
The company owns a 100% working interest in the well and 48,000 net acres in the project overall.
The Burkett 5-34HOR well is expected to test the Devonian Lingle formation, a dolomitic reservoir which lies directly below the hydrocarbon rich New Albany shale.