LNG

March 20 (LNGJ) - Sacgasco, the Australia-listed natural gas exploration and production company, said it had significantly strengthened its position in the US Sacramento Basin through the acquisition of five new operated gas wells from various private Californian firms. The assets also include all associated leases, production facilities, meter stations and pipelines at two gas fields. The assets are in the Rancho-Capay field, adjacent to existing Sacgaso production, and the East Rice Creek field. “Current gross production from just two wells in the latest acquisition amount to 120 mcf per day. In total Sacgasco now has a portfolio of 25 wells in the Sacramento Basin with 10 in production and a further 15 that have the potential to be brought back into production,” the company said.