Mountaineer Keystone Renames Itself Arsenal Resources

In October 2014, Mountaineer Keystone, a pure play Marcellus/Utica driller headquartered in Pittsburgh, bought out PDC Mountaineer for half a billion dollars, creating a company with 181,000 net acres totally focused on the northeast (see Major New Player in the Marcellus Emerges: Mountaineer Keystone). Mountaineer Keystone got its start in 2010 when founder/CEO Rob Kozel formed the initial management team from former Texas Keystone people. In 2011 the company took a boatload of money from First Reserve, an energy investment firm. We don’t have the back story, but in November 2015, Mountaineer announced that Kozel was out as CEO, and in his place the board has selected David Wood, the current Chairman of the Board at Mountaineer Keystone (see Shake-up at the Top of Marcellus Driller Mountaineer Keystone). Last Friday Mountaineer changed its name–to Arsenal Resources…

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