Logos Resources LLC and Merrion Oil & Gas Corp. formed a joint venture (JV) in New Mexico’s San Juan Basin, Logos said May 30.
The JV concerns more than 20,000 gross acres of Merrion’s existing leasehold, the company added. Logos will operate the assets, and the two companies will develop them, Logos said. The initial drilling will be in the Gallup/Mancos oil play, the company added.
Logos has the option to purchase up to 70% of Merrion’s leasehold, the company noted.
“We are very excited about partnering with Logos to ...