Talisman Energy Inc
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Fortuna Energy Inc. is a subsidiary of Talisman Energy Inc., of Calgary, Alberta, Canada. Since its inception in 2002 it has acquired vast holdings of Trenton-Black River drilling rights in the States of New York and Pennsylvania from several other energy companies. The company has successful Trenton-Black River wells in New York State.
In September, 2008, the Elmira, New York-based Fortuna Energy was reported having won two leases in competitive bidding for tracts in the State of Pennsylvania's forest lands in Tioga and Lycoming Counties. Eighteen tracts were offered for bid.
A late September report indicated Fortuna was drilling near Elmira, N.Y.
An October, 2008 report found the company having recorded 100 leases in Bradford County, Pennsylvania during 2008.
A report later in October stated that Fortuna owns roughly 1 million acres of drilling rights in the Southern Tier of New York and in Pennsylvania. Some of their leases expire in 2009. One of the company's challenges will be to form units large enough to drill on out of what is left after these expirations.
In December, 2008 a news report appeared in which it was mentioned that Fortuna was using a dry well in Van Etten, NY, located approximately thirty-five miles west of Binghamton, for storage of drilling brines. It was stated that the brines were from a 9,000 foot Trenton-Black River well in the area.
In February, 2009 it was reported that Fortuna is very actively drilling in Western Bradford County, PA.
In April, 2009 Fortuna announced that it is opting out of lease extensions in Tioga County, New York. This county is roughly half way on a straight line drawn between Elmira and Binghamton in New York State's Southern Tier. The company cited the poor economy as well as an uncertain state regulatory environment as reasons for the action. Property owners were given the opportunity to continue on with Fortuna, but receive retroactive lease payments only if and when the company takes the leases back up. Otherwise they were to be canceled. All of the leases involved were intended for Marcellus shale development.
Mark Scheuerman is Fortuna's Manager of Media and Legal Affairs
Rick Kessy is Manager of Operations and Engineering
