Bridge Resources Corp. is an exploration and production company with focus on the onshore Western Idaho Basin in the USA. The wholly-owned Bridge Energy Inc. subsidiary operates and holds a 50% working interest in over 105,000 acres.
Bridge drilled 11 wells in Idaho in 2010 resulting in 5 gas wells (Hamilton Field) and 2 gas condensate wells (Willow Field). Bridge is currently contracting midstream companies to bring these two fields on stream later this year.
Bridge has sold its UK Gas Area Bridge North Sea Ltd. subsidiary to Perenco UK Ltd. Under the sale terms, Bridge has retained an 18% deferred compensation interest equal to the after-tax value of a 25% net profits interest in the Durango gas condensate field. Bridge anticipates that production from Durango will resume later this year.
