Operational Updates
Seneca Resources Modifies Completions, Longer Laterals and More Frac Stages
Print
|
"Over the last few years, Seneca's exploration and development efforts have increasingly focused on our Appalachian and California assets," said David F. Smith, Chairman and Chief Executive Officer of National Fuel. "Seneca has not made substantial investments in the Gulf Coast for a number of years. This sale allows us to recover the remainder of Seneca's investment quickly. We look forward to redeploying these proceeds to Seneca's long-term growth opportunities in the Marcellus Shale."
Also, Seneca recently reached a major milestone with a daily net production rate of more than 100 million cubic feet ("MMcf") per day from the Marcellus Shale. As of March 7, 2011, Marcellus net production was approximately 120 MMcf per day from 32 operated and 27 non-operated Marcellus Shale wells…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations