Triana Energy

From Wikimarcellus

Charleston, West Virginia-based Triana Energy (aka Triana Energy Investments LLC) is a gas exploration and production company focusing on the Appalacian Basin and Marcellus shale formation. The company formed a partnership in early 2011 with Marathon Oil to develop 82,000 acres in southwestern Pennsylvania and northern West Virginia.

In June, 2009 Triana had formed a strategic partnership with Morgan Stanley Private Equity who was its majority owner.

Morgan Stanley Private Equity is a component of the global financial services firm by the same name. It has a history of working with several of Triana's executives in an earlier rendition of Triana Energy which owned and operated Columbia Gas after purchasing it from NiSource in 2001. After operating Columbia from 2001-2005, Triana sold the company to Chesapeake Energy in November, 2005 for $3.2 billion.

• Henry Harmon is Triana's Chairman and CEO, and was a key figure in the sale of Columbia Gas to Chesapeake after more than two decades with the former company.
• Richard Beardsley is the Triana's Chief Geoscientist and a legendary oil and gas figure in the Appalachian Basin. He was with Columbia Gas for many years prior to its acquisition by Triana. He is generally credited with much of the impetus behind the successful exploration of the Trenton-Black River formation in the Finger Lakes district of New York.

Triana announced in February, 2011 that it had made an agreement with Marathon Oil Corporation to jointly develop 82,000 acres in Fayette County, PA and several northern West Virginia counties. Triana planned to drill 4 horizontal wells on the acreage before year-end in order to optimize completion patterns. Subsequently, the partners planned to drill as many as 132 wells on 43 different well pads.