Pin Oak Energy. Northern Utica/ Point Pleasant Acquisitions. 8/3/17

Needless to say, it's been terribly quiet here lately. This article was written 8/3/17 though, and it includes activity in Trumbull county and the Northern Utica/Point Pleasant formations . Definitely worth a read. Pin Oak Energy, a five-acre field office with a yard in Hermitage, Pa.  Follow the money. Interesting at least.

 http://www.oilandgasinvestor.com/pin-oak-energy-acquires-utica-poin...

The gold rush is probably over, but it seems that prospecting will continue if conditions allow. Good luck to all.

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Permalink Reply by James Vanderink on August 4, 2017 at 5:55am
Interesting
The old AB Resources gang
Permalink Reply by Jim Litwinowicz on August 4, 2017 at 7:24am

Interesting indeed.  But it stimulates some questions.  Whose wells did they buy?  The Halcon well near Polk?  Any by Hilcorp or Chevron in Mercer Co? Who drilled in Crawford....Range Resources?

And does Pin Oak plan on drilling any more wells?  Or are they buying up producing wells speculating that these leases will be valuable at some point down the road?

Permalink Reply by Sage59 on August 4, 2017 at 8:29am

All great questions. Would love to see Northwest Pa and Northeast OH show some positive activity. Here is a link to the company website. http://www.pinoakep.com/

Permalink Reply by Upton Sinclair on August 6, 2017 at 11:46am
Purely speculation - but I assume Halcon sold given the yard in Hermitage. Halcon Field Services purchased that several years ago. I certainly hope they continue drilling but I doubt that as well. I see them listed as operators on a few wells in the area, but no permits issued in their name. My guess is they bought cheap and are positioned for a long term hold, which sucks... the area is beat enough. Just my two cents.
Permalink Reply by James Vanderink on August 7, 2017 at 3:11am
They purchased EQT wells in Guernsey and D.A. Waldron assets in various counties. Recently Geopetro has purchased Devon Energys wells in Guernsey Wayne and Coshocton counties also.

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