Energy Revenue America, Inc. (ERA) – a firm focused on the acquisition, development and exploration of coal bed methane (CBM) natural gas – is pleased to provide an update on the company's recent activities.
After spending the past twelve months repairing and updating their 65 mile natural gas pipeline, and adding new compressors, ERA has received funding from an international investor for US$1 743 500. The investment is being used to acquire additional leases, extend the existing pipeline and place 20 natural gas wells into production.
"Putting these 20 wells into production together with our existing wells puts us into a cash flow positive position so we can now turn our attention to producing gas and attracting additional investors. The fact that we own our pipeline and have a coop that sells our gas, positions ERA to ‘ride out’ this temporary downturn in gas prices as we can still make money if gas prices fall well below US$2.00 per million ft3," says Charley Havens, ERA Chairman and COO.
Edited from source by Stephanie Roker
Read the article online at: https://www.worldpipelines.com/business-news/11112015/era-update-pipelines-compressors-and-wells/