Quail Energy, Corp. and Itera have a joint venture: a lease development project in Warren County, Pennsylvania. The goal of the project is the drilling and completion of up to 22 wells in the Devonian formation (approximately 2,000 feet) in acreage adjacent to large oil and gas fields first produced by Pennzoil Production in the late 19th century. This area was the first in the world to produce commercial quantities of oil and gas.
Development continues today, and the region’s wells produce the highest-quality oil in the United States. The area’s “Penn-Grade” crude oil combined with co-produced high-BTU gas makes for strong economics. Quail Energy is an independent producer-operator that has been involved in developing oil and gas wells in the Appalachian basin for more than 45 years.
Itera has invested in a joint venture with Quail Energy, Corp. in a lease development project in Warren County, Pennsylvania.