Rose is active in the prolific Denver-Julesburg Basin (the “DJ Basin”) located in Colorado and Wyoming, USA.
Rose is actively pursuing transactions which will provide the company with near-term, low-risk horizontal development drilling exposure in the prolific Denver-Julesburg Basin (the “DJ Basin”). Located in Colorado and Wyoming, the DJ Basin is a world class, liquids-rich resource play currently undergoing a major resurgence as vertical production is replaced with successful one and two-mile horizontal well developments, with over 4,000 horizontal wells drilled in the DJ Basin to date. Moreover, there is significant infrastructure in place with available capacity, and ready access to service providers and contractors.
Rose’s new management team and partners have extensive experience delivering production from horizontal development in the DJ Basin.
In November 2019, Rose announced its intent to acquire interests in the McCoy lease, a horizontal redevelopment of an existing productive lease located in an active part of the DJ Basin. Rose forecasts a commencement date in Q3 2020 for an initial 12 well drilling programme with up to two-mile long laterals (the “Initial Drilling Programme”).
The company believes the proposed McCoy Acquisition is the first in a series of expected deals designed to build value via attractively priced, low risk assets which have potential to deliver production in the short term. We believe the McCoy lease will be an excellent addition to the Rose portfolio and will both complement and balance our newly restructured Paradox Basin appraisal asse