according to shaledirectories.com No price given.
“This transaction further bolsters the company’s deep Utica rights in the oil and wet gas windows of the play,” said Mark Van Tyne, Pin Oak’s chief business development officer. “The fact that the majority of the acreage is Hbp affords us time to more thoroughly evaluate the region as we high grade locations for economic development.”
The acquisition also included drilled and completed, but not online, horizontal Utica Shale wells, along with previously built, but not drilled, well pads, according to Pin Oak.
Pin Oak Energy’s net acreage position in Mercer, Crawford and Venango counties has increased to a total of 60,000, 5,500 and 7,100, respectively.
OT,BG British gas co?