A land conservation group has reached a long-sought agreement to prevent a gas drilling project in northwest Wyoming by buying out a vast area of mineral leases inside Bridger-Teton National Forest.
The Trust for Public Land tells The Associated Press it plans to buy out 58,000 acres of oil and gas leases owned by Houston-based Plains Exploration and Production Co. for $8.75 million.
PXP confirms the agreement, to be formally announced Friday. The deal would end PXP's plans to drill 136 gas wells near the Hoback River headwaters inside the national forest.
