Pure Cycle Corporation Announces Renewal of Sky Ranch Oil & Gas Lease to Conoco
DENVER, CO -- (Marketwired) -- 02/19/14 -- Pure Cycle Corporation
(NASDAQ: PCYO) announces today that Conoco has extended the term of
its Sky Ranch Oil and Gas Lease.
ConocoPhillips, through its wholly owned subsidiary Burlington
Resources Oil & Gas Company L.P., has extended the Company's Oil &
Gas Lease on Sky Ranch for an additional two years through March 10,
2016. The Company received payment of $1,243,440 to extend the lease.
"We welcome the opportunity to work with a world class exploration
and production operator like Conoco at our Sky Ranch property and
look forward to assisting them in the development of oil & gas from
our property," stated Mark Harding, Pure Cycle's President and CEO.
Pure Cycle owns water assets in several river basins in the State of
Colorado as well as certain aquifers in the Denver, Colorado
metropolitan area. Pure Cycle provides water and wastewater services,
including the design, construction, operation and maintenance of
water and wastewater systems, to wholesale customers, which are local
governmental entities who provide water and wastewater services to
their end-use customers located in the greater Denver metropolitan
area. Pure Cycle also owns approximately16,700 acres in Southeastern
Colorado that are leased to area farmers.
Additional information including our recent press releases and Annual
Reports are available at www.purecyclewater.com, or you may contact
our President, Mark W. Harding, at 303-292-3456 or at
Mark W. Harding
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