Cunningham Energy Acquires 2700 acre Oilfield in Jackson & Roane Counties, West Virginia
02 September 2014 - 7:03PM
Business Wire
Cunningham Energy has purchased all rights to the Buffalo-Peniel
Oilfield from Moser Group LLC, located in Jackson and Roane
Counties, West Virginia. The purchase includes over 2700 acres of
contiguous leasehold covering the total field area, along with
multiple producing oil and gas wells.
“Cunningham Energy has identified this field as having strong
shallow horizontal oil potential along with deeper targets in the
coming future. Our company is actively identifying targets such as
the Buffalo-Peniel Field for active shallow horizontal development
in the Appalachian Basin,” said Ryan Cunningham.
Cunningham Energy expects to begin further field testing through
currently operating wells during the coming months to determine
horizontal targets on the leasehold. The Buffalo-Peniel Field was
first discovered in 1930 with the drilling of the Knopp R.L. #1
well.
About Cunningham Energy
LLC
Cunningham Energy LLC is a private independent production and
exploration company based in Charleston, West Virginia. The company
was formed in 2008 for the purpose of acquiring, exploring, and
producing oil and gas in the Appalachian, Illinois, and Williston
Basins. Since inception, Cunningham Energy has relied on past
experience in parallel with the application of new technologies to
succeed in the ever changing field of efficient energy production.
Cunningham Energy is positioned to take advantage of current and
future trends in oil and natural gas production throughout these
basins with aggressive but responsible decisions in the coming
future.
Certain statements contained in this press release constitute
"forward-looking statements" as defined by the Securities and
Exchange Commission. Such statements can be identified by the use
of forward-looking terminology such as "believe," "expect," "may,"
"should," "up to," approximately," "likely," or "anticipates" or
the negative thereof. These forward-looking statements are based on
our current expectations, assumptions, estimates and projections
for the future of our business and our industry and are not
statements of historical fact. Such forward-looking statements
include, but are not limited to, statements about our expectations
regarding our financing, our future operating results, our future
capital expenditures, our expansion and growth of operations and
our future investments in and acquisitions of oil and natural gas
properties. We have based these forward-looking statements on
assumptions and analyses made in light of our experience and our
perception of historical trends, current conditions, and expected
future developments. However, you should be aware that these
forward-looking statements are only our predictions and we cannot
guarantee any such outcomes. Future events and actual results may
differ materially from the results set forth in or implied in the
forward-looking statements. The following factors, among others,
could cause actual results to differ from those set forth in the
forward-looking statements: general economic and business
conditions; exposure to market risks in our financial instruments;
fluctuations in worldwide prices and demand for oil and natural
gas; fluctuations in the levels of our oil and natural gas
exploration and development activities; our ability to find,
acquire and develop oil and gas properties, including the ability
to develop prospects; risks associated with oil and natural gas
exploration and development activities; competition for raw
materials and customers in the oil and natural gas industry;
technological changes and developments in the oil and natural gas
industry; legislative and regulatory uncertainties, including
proposed changes to federal tax law and climate change legislation,
and potential environmental liabilities; our ability to continue as
a going concern; and our ability to secure additional capital to
fund operations. Additional factors that may affect future results
are contained in our filings with the Securities and Exchange
Commission ("SEC") and are available at the SEC's web
site http://www.sec.gov. Cunningham Energy LLC disclaims any
obligation to update and revise statements contained in this press
release based on new information or otherwise.
Cunningham Energy LLCKevin Thibeau, 817-370-0299Company
Relations Email: info@cunninghamenergy.com