Pin Oak Energy Acquires Oil and Gas Assets in Ohio and Pennsylvania

Pin Oak Energy Partners LLC has closed on a transaction to acquire oil and gas assets in Trumbull, Tuscarawas and Mahoning Counties in Ohio and Mercer, Crawford and Venango Counties in Pennsylvania.

“This acquisition adds to our base of producing unconventional assets in the Appalachian Basin and allows Pin Oak to capitalize on operational efficiencies when combined with our existing producing assets,” said Christopher Halvorson, CEO of Pin Oak Energy. In addition, this transaction provides a foundation for continued build-out of midstream assets across the northern portion of the Utica/Point Pleasant development.”

The assets include 10 producing Utica/Point Pleasant wells with current daily production of 2.2 MMcfe/d; three drilled and completed wells waiting on pipeline; 22 miles of midstream gathering pipeline infrastructure (including pipeline rights-of-way awaiting pipeline installation) with eight interconnect locations; a 5-acre field office with yard in Hermitage, PA; and 283 leases covering more than 7,700 acres.”

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