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Wednesday, March 25, 2015

Drill Capital Announces Expansion in the Utica Shale

From a Drill Capital press release:
Drill Capital LLC, an alternative asset manager focused on investments in the North American energy sector continued its expansion in the Utica shale formation with the opening of a three-story 80 room Wyndham hotel in the town of Caldwell, Ohio. The property adds to the firm's investment portfolio in the northeastern Ohio energy corridor. 
Drill is also pleased to announce that it has broken ground on a third project in the Utica shale located in the town of Cadiz, Ohio. The expansion in the area follows Drill's recent entry into the Utica Shale and the successful opening of a similar sized Wyndham property located in Carrollton, Ohio during the third quarter of 2014. 
Additionally, Drill will be moving forward with the next set of investment projects to be located in the Permian Shale, a major production hub in the US Lower 48. Similar to the Utica Shale portfolio, the future projects will capitalize on the demand for lodging accommodations within strategic locations across the west Texas and southeast New Mexico regions. 
"We are very pleased with the build-out and performance of our Utica shale portfolio and all the more excited as we set our eyes on our next set of development projects in the Permian shale for the second half of this year" said Mr. Guindo, Founder and Managing Partner of Drill Capital. "We continue to be very positive on the longer term fundamentals of the US energy industry and intend to strategically position our private investments in order to benefit from this mega-trend going forward."
View the original release here.

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