Battalion Resources Collects J.M. Huber's Powder River CBM Assets

Acquired oil, gas & CBM properties in WY Powder River Basin.

Privately held, Denver-based Battalion Resources Holding LLC has acquired all of the oil and gas properties in the Powder River Basin held by J.M. Huber Corp. for an undisclosed price.

The specific assets were not disclosed.

The Powder River Basin is an area where the Battalion team has established expertise, with several team members having more than 75 collective years of coal bed methane experience. The acquired properties are throughout the basin and are complementary to Battalion's existing operations.

President and chief operating officer Keith Knapstad says, "This acquisition is a great fit with our current position in the Powder and will allow us to add scale and enhance operational efficiencies."

J.M. Huber previously canceled its deal to sell Powder River assets to High Plains Gas Inc., Gillette, Wyo., (OTCBB: HPGS) in July for an undisclosed price. The deal, originally proposed in February, included 1,735 producing coalbed methane wells in Sheridan, Johnson, and Campbell counties, Wyoming, covering 313,000 net leased acres. The transaction also included the purchase of 250,000 net acres of deep mineral rights, which may be prospective for multi-zone oil or gas development, held by existing production.