I asked the company about this and the answer was pretty simple.
Gas Corporation of America had a processing facility on their Pathfinder well which is Niobrara Formation. The gas quality produced by the Niobrara is high quality - about 1200MMBTU. It’s about 90% methane and contains some heavy gases - propane, butane, hexane. There is no CO2 or H2S. Quality of gas should not be brought into question.
They were selling gas but trucking it to Oklahoma and it became uneconomical when market for heavy gases collapsed. Gas Corporation of America went into bankruptcy and they couldn't buy the gathering equipment at the time (2015).
Seems like again we are now benefiting from past stuff ups and they have worked out an economic way to get the gas to market through a proposed pipeline
FPL Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
