PetroSun announced that it has signed a purchase agreement with Mobile Equipment Services Company of Dewey, Oklahoma to obtain an automated top-drive drilling rig for its Arizona exploration program. The company expects the equipment to arrive in the next 60 days.
PetroSun’s Arizona exploration program includes the Holbrook Basin of Apache County, which contains former helium producing fields and has potential for oil, natural gas, helium and CO2 from exploration wells drilled within the basin.
PetroSun acquired a 985,000 acre oil and gas lease from NZOG that includes targeted exploration prospects in the Holbrook Basin of Arizona and the San Juan Basin of New Mexico. The leasehold can be viewed on the company’s website under Prospects & Projects.
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