Epic Energy Resources, Inc., an integrated energy services company that specializes in data management and integration for upstream, midstream and downstream energy infrastructure, recently announced that the company has commenced its drilling and development agreement with Whittle Corporation to drill Marcellus Shale wells in northwest West Virginia.
Under the terms of the agreement, ARGOS Asset Management, Epic’s joint venture with UIV, LLC, will develop certain leases held by Whittle Corporation, which includes an 11-county area of mutual interest. ARGOS and Whittle Corporation have agreed to jointly develop approximately 12,600 acres, and capital funding for the program will be provided by UIV while Epic provides project management oversight on behalf of ARGOS. Phase 1 of the development plan includes drilling five vertical wells over the next several quarters.
John Ippolito, president and chief executive officer of Epic Energy Resources, stated, “Whittle, a successful family business founded in 1902, brings five generations of regional oil and gas experience to this program.” Mr. Ippolito continued, “This transaction places Epic in a unique position to leverage the company’s broad base of technical and operational services in one of the most active shale plays in the country and provides ARGOS with strategic entry into the Marcellus Shale.”
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