NiSource, Hilcorp Energy Joint Venture in Utica Shale

NiSource Inc. announced today they are entering a joint venture with Hilcorp Energy and combining their Utica Shale acreage together with Hilcorp doing the drilling. They’re also establishing a midstream joint venture called Pennant Midstream to construct an initial 50 miles of wet gas gathering pipelines in northeast Ohio and western Pennsylvania. And the new midstream company will build a natural gas processing complex in Ohio. No word on exactly how much acreage the combined two have together in the Utica Shale, but the jv plus the new pipelines and processing plant is a major development for both eastern OH and western PA.

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