Categorized | Energy Investment

New Accumulations Promise Oil Advancements

Posted on 05 December 2014

Cunningham Energy  a leader in oil and gas acquisition and production in North America, has made notable strides in recent weeks. On Sept. 3, the company announced that they had purchased the rights to the Buffalo-Peniel Oilfield, stretching over 2,700 acres in Jackson and Roane counties, West Virginia.

Then on Nov. 10, they announced their plans to drill four new shallow horizontal wells in nearby Clay County from the “Lion’s Paw” pad. Additionally, Cunningham Energy is still in the finishing stages of the Dragon’s Breath Three Well Horizontal Program, also in Clay County.

Founded in 2008 and based in West Virginia, Cunningham Energy has quickly become a leader in oil production in the US. The nation’s oil production has recently grown rapidly, thanks to new oil acquisition tactics and practices. In fact, the International Energy Agency said in June 2014 that the US was the biggest producer of oil and natural gas liquids, with expectations to surge output of 12.1 million barrels a day by 2019.

 

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