(FEB 2019) Pin Oak Energy Partners Announces Closing of an Acquisition of Producing Unconventional Assets and 20,000 net Acres
Pin Oak Energy Partners Announces Closing of an Acquisition of Producing Unconventional Assets and 20,000 net Acres
Pin Oak Energy acquired from an undisclosed seller (the Seller) certain producing Marcellus and conventional assets in Elk County, PA. As part of the transaction Pin Oak Energy also acquired a 12-mile midstream gathering system capable of delivering peak volume of 25,000 MMBtu/Day to a large industrial end-user. Pin Oak Midstream LLC (a Pin Oak Energy affiliate) will operate the midstream gathering assets. In addition, the Company entered into an agreement with the Seller covering the development of over 20,000 net acres, also in Elk County, that is prospective for both Marcellus and Utica.
About Pin Oak Energy
Pin Oak Energy Partners LLC and its subsidiaries are Appalachian Basin energy companies engaged in the exploration and production of conventional and unconventional oil and natural gas wells along with the operation of midstream pipeline systems. The Company currently operates over 700 wells producing nearly 14.0 MMcfe/d net (11% liquids), over 125 miles of midstream assets, and maintains a 130,000 net acre position in the basin. Visit Pin Oak Energy at www.pinoakep.com
Pin Oak Energy Partners LLC
1-888-748-0763 Ext. 701