Quest Resource Corporation

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Quest Resource Corporation (QRCP), an Oklahoma-based exploration and production company was reported as of September, 2008 as owning 122,600 net acres in the Appalachian Basin that are prospective for Marcellus shale.

In October, 2008, Quest announced it has budgeted $11 million to cover the following drilling plans it has for the forth quarter of the year:

  • Lycoming County, Pennsylvania - One vertical test well
  • Lewis County, West Virginia - One horizontal well
  • Ritchie County, West Virginia - Two vertical wells
  • Wetzel County, West Virginia - Two horizontal wells

In November, Quest announced a joint venture with an unnamed company whereby it sold 4,500 undeveloped Marcellus acres in Wetzel County while still maintaining its position in the County. Three wells is various stages of completion along with gas pipelines were sold to the anonymous party. In the future drilling expenses will be shared on a 50-50 basis between Quest and the other venture party.

David Lawler is President of Quest Resource Corp.

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