The company acquired a 75% working interest in these wells in 2009 and the wells are located on a 110-acre parcel in West Texas known as the Lozano lease.
The production from Alamo’s interests in the Lozano lease totaled about 1,600 barrels of oil for the year ended 30 April 2011.
Alamo CEO Allan Millmaker said divesting the three wells will enable Alamo to accelerate the development of its assets in the Appalachian basin, which have consistently proven to exceed the company’s expectations.
Alamo is focused on the exploration, development and production of onshore oil and gas reserves in the UK and US.
