Questar Corp. said its subsidiary, Questar Energy Co., has agreed to buy $13.2 million worth of gas and oil reserves, along with other assets, in New Mexico.
The seller is BCO Inc., an oil well operator based in Santa Fe, N.M. The properties are located 50 miles southeast of Farmington, N.M. in Rio Arriba and Sandoval counties. Proved reserves, said Questar, are estimated at 8.8 billion cubic feet of gas and 830,000 barrels of oil.Current daily production from 130 wells is 3.5 million cubic feet of gas and 400 barrels of oil.