Pin Oak Zigs to North Utica as Everyone Else Zags to South Utica

Pin Oak Energy Partners is an interesting company. As we reported in early February, the company recently closed on several deals to acquire 70,000 Utica acres in both Ohio and Pennsylvania, adding to its portfolio (see Pin Oak Energy Buys 70K Utica Acres in OH & PA + Pipeline Assets). The new acreage (and producing well assets) is located in Mahoning and Trumbull counties in Ohio, and Mercer County in Pennsylvania. The amount of the transaction was not disclosed. Neither were the names of the sellers. However, we now have a pretty good idea of who did the selling: Halcon Resources and BP. We have some new insights into the thinking and strategy of Pin Oak by zigging (concentrating on the northern Utica) when it seems everyone else is zagging–abandoning the northern tier for the better-yielding southern Utica…

Please Login to view this content. (Not a member? Join Today!)
You do not have permission to view the comments.

Please Login to post a comment