Incorporated in Delaware in 1979,
Penneco Oil Company works from its base east of Pittsburgh
Pennsylvania to explore and produce oil and natural gas from the
Appalachian Basin. As an operator, Penneco provides leasing,
exploration, and drilling in West Virginia and Pennsylvania.
Penneco Drilling Associates partnerships drill developmental
oil and gas wells with Penneco purchasing nearly one-third of the
total investment in each partnership. As the general partner in 34
oil and gas limited partnerships, over 800 oil and gas wells have
been drilled in 11 Pennsylvania counties (Allegheny, Armstrong,
Bradford, Cambria, Clearfield, Greene, Fayette, Indiana, Jefferson,
Washington, Westmoreland) and 4 West Virginia counties (Monongalia,
Preston, Tucker, McDowell).
Beyond these partnerships, Penneco owns over 100 wells and operates
nearly 800 wells in western Pennsylvania. Penneco Drilling
Associates have also participated in deep gas wells in three
states (Maryland, Pennsylvania, West Virginia).
Penneco holds gas leases or acreage positions in 13
Pennsylvania counties (Allegheny, Armstrong, Butler, Cambria,
Clearfield, Fayette, Greene, Jefferson, Indiana, Lawrence, Mercer,
Washington, Westmoreland) and 3 West Virginia counties (McDowell,
Monongalia, Preston).
As a non-operator, Penneco owns production and leases in Virginia,
Oklahoma and Utah.
Since 1998, Penneco Royalty Income Partnerships have acquired
oil and gas working interests, production payments in producing
leases, royalty and overriding royalty interests, pipelines and
other related oil and natural gas assets.
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