Rose Petroleum receives green light for Utah project

8th Dec 2014 14:39

Oil and gas producer Rose Petroleum's subsidiary, Rose Petroleum LLC, has received the green light to commence construction of the drilling pad and road into the 1-34 State well in the Cisco State Unit.The approval, granted by the State of Utah Department of Oil, Gas and Mining, means the company is now allowed to begin work on 8 December. The firm said work will be carried out on its behalf by Hanson Construction.The well will be the firm's first Mancos well and will mark the beginning of Rose's development of its Mancos leasehold which consists of approximately 133,000 gross acres.Drilling operations are scheduled to get underway later this December, the group said.Rose Petroleum shares were up 2.30% at 14:29 on Monday.