From the Marcellus Drilling News:
Magnum Hunter Chairman and CEO Gary Evans was on hand Monday in Marietta, Ohio for the grand opening of the new regional office building for Magnum’s Marcellus and Utica Shale subsidiary Triad Hunter. Triad has (so far) leased 85,500 acres in the Marcellus Shale and 81,800 acres in the Utica Shale. The new office is located centrally to both the Marcellus and Utica plays—together referred to as Appalachia.
Triad spent $1 million to remodel a downtown Marietta building that will be their Marcellus/Utica regional headquarters. So far over 40 Triad employees have moved in. Magnum Hunter, through subsidiaries including Triad Hunter, Alpha Hunter, Eureka Hunter, Green Hunter Water and Viking International Resources has its fingers in a lot of different pieces of the drilling pie. According to Gary Evans, their commitment to Appalachia is long-term…
Evans commented yesterday at the grand opening ceremony:
“We’re proud to say the Appalachian area is probably among the largest Marcellus shale production areas in the U.S. And now with the Utica shale deposits, I believe Appalachia will become the hottest area in the country for oil and gas production,” Evans told a crowd of state and local officials gathered in the entrance of the newly-renovated building near the corner of Putnam and Second streets.
He said the company typically has to secure enough property to provide long-term opportunities for its horizontal hydraulic drilling operations, and has leased or purchased more than 85,500 acres of land containing Marcellus shale, and another 81,800 acres of Utica shale property in the Appalachian region.
“So we’re looking many, many years ahead,” Evans said, noting Triad Hunter has already spent more than $500 million in developing mineral interests and infrastructure in this region.
Triad Hunter currently has operations in Monroe, Noble and Washington counties in Ohio as well as Tyler and Wetzel counties in West Virginia.*
Jim Denny, president and CEO of Magnum Hunter subsidiary Triad Hunter, was on hand as well:
Jim Denny…noted the company’s first two horizontal wells were drilled in Tyler County in the fall of 2010, and product from those facilities was on the market within 48 hours of completion of the drilling.
“This all started three years ago when we purchased Triad Resources (in Reno, from the late Kean Weaver),” he said. “We decided on a low-key entry into this area, knowing Kean Weaver was well-respected in the local community. And we wanted to build our own reputation here.”
The Triad name and identity has been maintained in the community, and Triad Hunter kept all of the former company’s employees on board.
“We started with a little under 100 people, and now there are 125,” Denny said of Triad. “And that’s not counting the recent acquisition of Viking International Resources Co., Inc. (Virco), that has added another 25 people.”
In addition, Alpha Hunter, the company’s drilling section, has 63 employees, pipeline division Eureka Hunter includes seven employees, and the water division, Green Hunter Water, has 68 workers.
The Putnam Street building that houses Chase Bank was purchased out of Kean Weaver’s estate by Triad Hunter in September 2012. The company spent an estimated $1 million on acquisition and remodeling the three-story facility.
Forty employees moved into the building at the beginning of this month, Evans said.*
*The Marietta (OH) Times (Feb 12, 2013) – Triad opens new office
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.