East Resources
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| - | 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. | + | 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 especially in Potter and [[Tioga]] Counties. |
| 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. | 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. | ||
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| 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. | 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. | ||
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| + | A December, 2009 news account stated that East was cooperating with the [[Susquehanna River Basin Commission]] to help fund a network of 30 water quality monitors to measure stream pollution in [[Tioga|Tioga County's]] drilling areas. The monitors were to act as an early warning system in case of chemical leak or spill to avert fish kills from water pollution and also provide baseline information as to water quality in the Susquehanna River's tributaries. These electronic devices have the capability to continuously monitor and report acidity, dissolved oxygen, electrical conductivity, turbidity, and water temperature. A change in the ability to conduct electricity would be an early marker in case of serious pollution taking place from drilling activities. The monitors also record and measure water depth indicating any rapid changes in the volume of water in the tributaries. | ||
| * Terrence M. Pegula is Founder, President and CEO of East Resources. | * Terrence M. Pegula is Founder, President and CEO of East Resources. | ||
Revision as of 18:33, 11 December 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 especially in Potter and Tioga Counties.
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.
A December, 2009 news account stated that East was cooperating with the Susquehanna River Basin Commission to help fund a network of 30 water quality monitors to measure stream pollution in Tioga County's drilling areas. The monitors were to act as an early warning system in case of chemical leak or spill to avert fish kills from water pollution and also provide baseline information as to water quality in the Susquehanna River's tributaries. These electronic devices have the capability to continuously monitor and report acidity, dissolved oxygen, electrical conductivity, turbidity, and water temperature. A change in the ability to conduct electricity would be an early marker in case of serious pollution taking place from drilling activities. The monitors also record and measure water depth indicating any rapid changes in the volume of water in the tributaries.
- Terrence M. Pegula is Founder, President and CEO of East Resources.
- Scott Blauvelt is East's Regulatory Compliance Coordinator.
- Paul Dudenas is the company's Manager of Engineering.
- Doug Mehan is Assistant Manager of Environmental, Health and Safety.
