Pennsylvania: Seneca acquires Tioga properties

By OGJ editors
HOUSTON, Jan. 10
– Seneca Resources Corp., Williamsville, NY, has acquired oil and gas properties in the Covington Township area of Tioga County, Pa., from EOG Resources Inc. for $23 million.

The properties are producing gas from the Marcellus shale and are also prospective for additional Marcellus reserves, Seneca Resources said.

EOG had contributed the acreage to the Marcellus joint venture between Seneca and EOG that was formed in 2006. Seneca has been the operating partner on this portion of the joint venture acreage and has acquired EOG’s interest in these properties, continuing to act as the operator of all existing and future wells.

The Seneca-EOG joint venture will continue, and EOG will continue to act as operator in the joint venture acreage west of Tioga County. As a result of the transaction, Seneca will add 42 bcf equivalent of proved natural gas reserves.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...