February 2012 - Tulsa, OK
Tulsa based BlueStone Natural Resources, LLC recently closed on the sale of its wholly owned subsidiary, Columbus Energy, LLC, to Memorial Production Partners, LP. The divestment results in the transfer of its ownership in more than 500 gas wells located in South Texas. Under the terms of the agreement, BlueStone will continue to operate the properties as a contractor to the purchaser under the terms of a transition services agreement between the parties. The length of this transition period has yet to be determined, but should last well into 2012.