Friday, May 17, 2019

Pin Oak Energy Scoops Up Utica Shale Assets in Deal with Protege Energy

From a press release:
Pin Oak Energy (Pin Oak) has acquired from Protege Energy III LLC the Caywood A 1H Utica well located in Washington County Ohio along with nearly 10,000 net acres in Washington and Noble Counties Ohio and Wood County, West Virginia. In addition to the producing Utica well, Pin Oak acquired the Big Red pad location, 60 square miles of proprietary 3D Seismic, largely undedicated acreage position and a 4-mile gathering line connecting into Blue Racer Midstream’s Washington County Connector line.
Marcellus Drilling News reports that Pin Oak is quickly moving on plans to develop its new assets:
It didn’t take long for Pin Oak to form their first drilling unit in Washington County, called Big Red. We have the details on where it is, and which properties are included.

Thanks to an MDN tipster, we have a copy of a pooling notice filed by Pin Oak on May 1. Pin Oak is pooling the land owned by 21 different landowners in Liberty Township (Washington County) to form a 465-acre unit they call the Big Red Unit. Below is the pooling notice. At the end of the notice you’ll find a list of the landowners and how much of their property will be included in the pool, along with a map of the unit.
To view the copy of the pooling notice, click here (subscription required).

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