Battalion Resources Holding LLC and its affiliates have purchased all oil and gas assets in the Powder River Basin of J.M. Huber Corporation, according to Robert Currie, Vice President and Chief Communications and Public Information Officer for J.M. Huber.
Sheridan Media inquired about the sale and Currie sent a statement via email on Wednesday, saying that the announcement came down last Thursday, Dec. 8.
“Huber has chosen to exit the oil and gas industry at this time to focus on its core engineered materials and businesses,” Currie said.
Terms of the sale were not disclosed.
Denver-based Battalion Resources Holding company LLC's affiliates include Storm Cat Energy Acquisitions, LLC and Storm Cat Energy (USA) Operating Corporation.
Battalion President and Chief Operating Officer, Keith Knapstad issued the company's written statement on Thursday morning.
"This acquisition is a great fit with our current position in the Powder and will allow us to add scale and enhance operational efficiencies," Knapstad said. "We look forward to working with our business partners and the people of the community as we expand our footprint in the basin."
The media release dated December 14 from Battalion states that the acquired coal bed methane properties in the area are complementary to their existing operations. Battalion, a privately held exploration and production company, operates in the Powder River Basin under the affiliate Storm Cat Energy. They also operate in Canada.