Plateau Mineral Development, Inc. Announces Building of a Pipeline to Produce Significant Revenues
Plateau Mineral Development, Inc., along with its partner Plateau Mineral Development LLC, is pleased to announce the building of a pipeline that is predicted to produce significant revenues for the company.
The Pipeline Gathering System is 6.16 miles long and is comprised of a six-inch and four-inch main trunk line. The trunk line is fed by four miles of two-inch poly pipe that delivers gas from twelve wells ready to deliver up to three hundred MCF/day of gas production to the PMD Compressor Station that delivers gas into the twenty-four-inch steel east-west SPECTRA high-pressure main transportation pipeline.
The Pipeline is capable of gathering and delivering at least 1200 MCF/day to market. Additionally, there are twelve existing wells and new drill well sites on the PMD leases, each within 2000 feet or less of the trunk line.
Nearby are approximately thirty wells tied into shut-in gathering systems that can connect to the PMD trunk line with approximately one mile of four-inch poly pipe at modest acquisition costs that permit return on investment within a matter of a few months.
PMD’s pipeline expansion plan is based upon a logical sequential extension of the main trunk lines. This will permit economic production from fields that have been shut in for twenty years or longer.
Robert Matthews, President of Plateau Mineral Development, states, “This pipeline is a major step towards increased revenue for our company. We look forward to reaping its benefits.”
Plateau Mineral Development, Inc. specializes in the exploration and development of gas and oil fields. Currently it is concentrating its efforts in Morgan County, Tennessee. Its partner, Plateau Mineral Development LLC, has been in existence for over five years with successful new wells and rework wells selling both gas and oil. Its current priority is to complete its compressor station to sell its gas production more consistently at top market prices through its own tap (the Morgan #4) for direct sales at top market prices. The project is scheduled for initial production in November 2008.