WIDEN-FOLA OIL AND GAS FIELDS SOLD

(11/24/2004)

The Widen-Fola oil and gas field is being purchased by Range resources, part of a $219 million deal. It includes 417,000 acres in West Virginia and Virginia. What is means to the local area is uncertain, at least in the near future. The deal includes the Nora, Haysi and Slate Creek fields in Virginia, and the Widen-Fola and Blue Creek fields in West Virginia. The Nora field accounts for 85 percent of current production. The oil and gas fields were once owned by Pittson Coal. About 70 percent of current production is coal bed methane, but only 40 percent of the fields are developed, according to the Texas-based company.

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