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4Point details $2 billion investment, production focus and plan to expand market outlets
Summary
4Point described its recently acquired Uinta Basin asset (126,000 net acres, ~33,000 BOE/day), a roughly $2 billion investment backing, plans to grow drilling activity and a market-access agreement with Energy Transfer to expand Price River Terminal capacity over the next ~18 months.
Spencer Kimball, government relations manager for 4Point Resources, introduced the company’s Uinta Basin asset and economic plans at the collaborative meeting.
Kimball said 4Point took over an asset with about 900 gross operated locations, retained most local staff, and is operating roughly 33,000 barrels of oil equivalent per day. He described a $2,000,000,000 investment from private equity backers and said roughly half of that stack supports…
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