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PetroEdge Resources LLC

December 2004 to July 2008

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Focus Area

Marcellus Shale – Appalachia

Financial Partner

EnCap Energy Capital 

Project Highlights 

  • EnCap Energy Capital 
  • Acquired 94,232 net acres
  • Drilled 104 vertical wells in 3 years
  • 41 wells were first generation Marcellus Shale
  • Generated Reserve Value:
  • PDP - 16.2 Bcfe, PV-10;  $59.5 M
  • Proven - 100.9 Bcfe; PV-10 $229.6 M
  • Probable - 48.1 Bcfe; PV-10% $57.8 M
  • Possible - 17.4 Bcfe; PV-10% $19.2 M
  • Additional reserve potential of 314 BCF from 684 resource locations
  • Total Reserve Exposure of 480 Bcfe

 

Disposition 

Sold to Quest Resource Corporation – now PostRock Energy Corporation


PetroEdge Energy LLC

July 2008 to December 2012

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Focus Area

Marcellus Shale – West Virginia

Financial Partner

EnCap Energy Capital 

Project Highlights

  • Acquired 32,015 net acres
  • Drilled 104 vertical wells in 3 years
  • - 41 wells were first generation Marcellus Shale
  • Generated Reserve Value:
  • PDP - 17.2 Bcfe, PV-10;  $27.0M
  • Proved - 0.93 Bcfe; PV-10 $69.2M
  • Probable - 527.0 Bcfe; PV-10% $244.6M
  • Possible – 141.1 Bcfe; PV-10% $183.2M
  • Drilling Locations: 225 gross, 100 net
  • Total Reserve Exposure of 763.4 Bcfe

Disposition

Sold to Statoil - Management operated properties
                                                              for Statoil through September 2013

PetroEdge Energy III LLC

July 2013 to October 2014

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Focus Area

Lower Eagleford Shale – Texas

Financial Partners

Post Oak Energy Capital
Goldman Sachs Investment Partners

Project Highlights

  • Acquired 32,015 net acres
  • Drilled 1 horizontal well
  • Generated Reserve Value:
  • PDP - 17.2 Bcfe, PV-10;  $27.0M
  • Proved - 0.93 Bcfe; PV-10 $69.2M
  • Probable - 527.0 Bcfe; PV-10% $244.6M
  • Possible – 141.1 Bcfe; PV-10% $183.2M
  • Drilling Locations: 225 gross, 100 net
  • Total Reserve Exposure of 763.4 Bcfe

Disposition

Sold to Apache Corporation