Seneca Resources to partner with investment firm for Marcellus wells
Saturday, December 5, 2015
Pittsburgh Tribune-Review reports that Seneca Resources, one of Pennsylvania’s largest gas producers, has announced a joint partnership with IOG Capital.
The partnership will develop between 42 and 80 new wells in three northern counties of Pennsylvania: Elk, McKean and Cameron. IOG Capital will provide Seneca with up to $380 million. IOG will receive close to 74 percent revenue on the first 42 wells.
Like other producers, Seneca has cut back on production as a result of the industry downturn.
Via: Pittsburgh Tribune-Review > Seneca Resources joins with IOG Capital to maintain Marcellus activity
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