Deal: Morgan Stanley-backed Triana Energy buys Marcellus

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[Context: On January 29, Morgan Stanley Private Equity-backed Triana Energy disclosed an acquisition in the Marcellus. Further details and related links are below.]

Triana Energy Expands Mineral Holdings in Marcellus Fairway

CHARLESTON, WV, January 29, 2010 – Triana Energy, LLC announced today that it has completed the acquisition of mineral holdings in two transactions. The two parcels total approximately 20,000 acres of mineral rights within the proven Marcellus fairway. According to Triana’s Senior Vice President of Business Development, Shawn Casey, “These transactions fit strategically into our plans to further define and develop the Marcellus fairway. We have preformed extensive geologic evaluation of these two areas and are confident in their potential. Holding this acreage will allow Triana to pursue an aggressive Marcellus development program once the projects are qualified through the regulatory agencies.”

The two projects, one a 15,000 acre joint venture with Minard Run Oil Company in McKean County, Pennsylvania, and the second a 5,000 acre lease in Clearfield County, Pennsylvania, provide the ability to systematically and efficiently drill multiple horizontal wells from single drilling pads. The company estimates approximately 100 horizontal wells will be drilled from 27 drilling pads.

About Triana Energy
Triana Energy Investments, LLC is an independent, privately held oil and gas exploration and production company headquartered in Charleston, West Virginia. Triana Energy and its management team have a long and successful history operating in the Appalachian Basin. It utilizes state-of-the-art technology, skilled technical professionals, experienced management and extensive relationships in the Appalachian Basin to become an industry leader.

Related Links

  • www.trianaenergy.com