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Oklahoma City, Oklahoma-based PostRock Energy Corporation (Nasdaq: PSTR) was formed through a recombination merger of Quest Resource Corporation, Quest Energy Partners, L.P., and Quest Midstream Partners, L.P. in March, 2010.
According to an April, 2010 company report, PostRock owns 398 gross producing gas wells in the Appalachian Basin and 44,507 net acres in the Marcellus shale and Devonian plays. The company's acreage is centered on Ritchie, Wetzel and Lewis counties in West Virginia. The company had drilled one horizontal well in November, 2009 in Wetzel Co. that had initial production (IP) of 2.7 Mmcf/d and production at the time of the report of 1.2Mmcf/d. It was completed with a six stage frac. A vertical well was also drilled there in January, 2010. It had IP of 1.8 Mmcf/d and production at the time of the report of 380 Mcf/d. During 2010, the company planned to drill 3 vertical wells in Wetzel Co., and 6 horizontal ones in Wetzel and Lewis counties.
Update: A May, 2010 company update reported that PostRock had finished drilling the three vertical wells in Wetzel Co. and was participating in its first horizontal well in Lewis Co.
PostRock's acreage in West Virginia includes: * Wetzel Co. 2,293 net acres * Lewis Co. 8,211 net acres
One of PostRock's joint venture partners is Chesapeake Energy.
PostRock sold its acreage in Wetzel and Lewis counties in December, 2010 to Magnum Hunter Resources Corp.
- David C. Lawler is PostRock's President and CEO.
- Jack Collins is CFO.
- Tom Saunders is Executive Vice President - New Business Development, Midstream.
- Lance Galvin is Vice President, Engineering and Operations, Appalachia.
- David Pinson is Vice President, Land.