Pin Oak Energy acquires wells in Utica shale
Wednesday, August 16, 2017
Pin Oak Energy Partners, an Akron, Ohio-based oil and gas producer, has acquired 10 wells in eastern Ohio and northwestern Pennsylvania, along with 7,700 acres of leases, 22 miles of pipeline and an office in Hermitage from an undisclosed seller, according to the Pittsburgh Business Times.
The acquisition includes 10 wells in Mercer, Crawford and Venango counties, as well as three other counties in Ohio with a total production of 2.2 million cubic feet per day. It adds to Pin Oak’s 363 wells which produce 5.6 million cubic feet per day.
Pin Oak did not disclose the purchase price or financial terms of the deal.
Learn more: Pittsburgh Business Times > Pin Oak Energy Partners acquires Utica wells, other assets
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What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
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Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.
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