Buffalo-Peniel Oilfield Sold to Independent Energy Provider

Posted on 23 September 2014

The privately owned Cunningham Energy has begun its expansion into existing and potential oil producing areas of the Appalachian mountain basin with its recent purchase of a 2,700 acre existing oil field in West Virginia’s Jackson and Roane counties. Formed in 2008, Cunningham Energy has embarked on an operation to discover and fulfill the potential of the historic Buffalo-Peniel field, which has been in operation since 1930.

Since it was first discovered, the Buffalo-Peniel oil and gas producing field has expanded to include a total area of 2,700 acres. This oilfield has recently produced both oil and gas to become an important part of the West Virginian economy.

Being based in Charleston, West Virginia, Cunningham Energy is a local company looking to make the most of the natural resources of West Virginia in a bid to expand on the amount of oil and gas produced without the use of shale in the United States. Before the purchase of the Buffalo-Peniel field, Cunningham Energy had been a major player in the production of oil and gas in the Appalachian and Illinois basins.

Unlike a large number of their competitors, Cunningham Energy is attempting to bring together new technology and explore the potential of the existing fields found within West Virginia and its neighboring states. The company believes the potential of the Buffalo-Peniel field has yet to be tapped and is embarking on a period of research and exploration that will run alongside the production of oil and gas from the existing wells in the Appalachian basin.

In the long term, the ability to embark on a prolonged period of expansion of the oil and gas production levels at the Buffalo-Peniel field should increase production of oil and gas in the U.S. and reduce the level of imported oil and gas. The use of new technology will be used to tap into the shallow horizontal fields known to exist in Appalachian basin and reduce the need to expand into the shale market in the region.

It remains to be seen what direction Cunningham Energy will embark on into the future as the company has long had its focus on the oil fields of West Virginia and will now look to include gas production in its production levels in the Buffalo-Peniel field.

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