Seneca Resources Company, LLC, operates approximately 900 deep, unconventional shale wells in Pennsylvania. The region is known for its stable, long-life natural gas reserves and is the site of the first oil well drilled by Edwin L. Drake in 1859. It’s also home to the Marcellus and Utica geologic formations that stretch from the Southern Tier of New York state through Pennsylvania, Ohio and West Virginia.
Seneca Resources controls more than one million net prospective acres in the Shale Fairway in Pennsylvania. Of our Marcellus holdings, approximately 65% is fee acreage, with the oil and gas rights being exclusively owned by Seneca Resources with no royalty obligation or lease expiration. The remaining Marcellus land rights, approximately 20%, are leasehold interests, most of which are currently held by production. This industry-leading oil and gas ownership position greatly improves our production economics compared to other companies active in the Marcellus and Utica formations.
Seneca Resources has been an exploration and production entity in the region for more than 100 years. Development of Marcellus and Utica Shale assets is a significant focus of our current operations and will be for many years to come.