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Trust: Another $750K needed for Hoback lease deal

Published on NewsOK Modified: December 20, 2012 at 3:53 pm •  Published: December 20, 2012

CHEYENNE, Wyo. (AP) — A land conservation group says it needs to raise $750,000 by year's end to buy out gas leases and prevent drilling in the Hoback River headwaters in western Wyoming.

A fundraiser in Jackson on Friday will seek to help the cause.

The Trust for Public Land announced in early October that it had agreed with Plains Exploration and Production to buy out the leases for $8.75 million.

The buyout of 58,000 acres of leases would halt PXP's plans to drill 136 gas wells within Bridger-Teton National Forest.

The trust already had secured $4.5 million for its deal with Houston-based PXP. The trust since then has raised another $3.5 million for a total of about $8 million.

Deborah Love with the trust says extending the year-end deadline is not an option.


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