East Resources
From Wikimarcellus
| Revision as of 06:59, 10 June 2009 Tcopley (Talk | contribs) ← Previous diff |
Revision as of 07:07, 10 June 2009 Tcopley (Talk | contribs) Next diff → |
||
| Line 16: | Line 16: | ||
| A second November report noted that East was in the process of drilling on the Hickok farm in Bradford County. | A second November report noted that East was in the process of drilling on the Hickok farm in Bradford County. | ||
| - | In June, 2009, East Resources announced that the global investment firm, ''Kohlberg Kravis Roberts & Co. L.P. (aka KKR)'', had made a significant investment (reportedly, $350 million) in the company in the form of debt. In exchange, KKR will hold a minority interest in East. The funds will be used for several purposes including expanding and developing its Marcellus leasehold and building pipeline infrastructure. | + | In June, 2009, East Resources announced that the global investment firm, ''Kohlberg Kravis Roberts & Co. L.P. (aka KKR)'', had made a significant investment (reportedly, $350 million) in the company in the form of debt which can be converted into a minority equity interest in East. The funds will be used for several purposes including expanding and developing its Marcellus leasehold and building pipeline infrastructure. |
| * Terrence M. Pegula is Founder, President and CEO of East Resources. | * Terrence M. Pegula is Founder, President and CEO of East Resources. | ||
| * Scott Blauvelt is East's Regulatory Compliance Coordinator. | * Scott Blauvelt is East's Regulatory Compliance Coordinator. | ||
Revision as of 07:07, 10 June 2009
Here is where some info about East Resources should go. This article is still a stub and needs your attention. It does not have a template and contains minimal information. Please dive in and help it grow!
Warrendale, Pennsylvania-based East Resources is a privately-held oil and gas exploration and production company. It has a Marcellus shale leasehold in excess of 650,000 net acres in the key southwestern and northeastern Pennsylvania areas of the trend. The company is focusing on northeastern Pennsylvania.
In September, 2008, it was reported as a joint venture partner with Ultra Petroleum Corp. in a Potter County, Pennsylvania exploration program. East has a 50% working interest and is the well operator. So far, there are two two Oriskany exploratory wells. One of these has potential production of 5 Mmcf/d. Other wells there are targeting the Marcellus shale.
An October, 2008 report noted that East was buying about 60,000 gallons of water per day from the Borough of Coudersport in Potter County for fracking a well in North Coudersport.
Another October report indicated that East has recorded 162 leases during 2008 with the Bradford County, Pennsylvania Registrar of Deeds.
A November, 2008 report noted that East Resources had leased acreage in Tioga County, the next county east of Potter County.
A second November report noted that East was in the process of drilling on the Hickok farm in Bradford County.
In June, 2009, East Resources announced that the global investment firm, Kohlberg Kravis Roberts & Co. L.P. (aka KKR), had made a significant investment (reportedly, $350 million) in the company in the form of debt which can be converted into a minority equity interest in East. The funds will be used for several purposes including expanding and developing its Marcellus leasehold and building pipeline infrastructure.
- Terrence M. Pegula is Founder, President and CEO of East Resources.
- Scott Blauvelt is East's Regulatory Compliance Coordinator.
