Talisman, Seneca Resources to jointly explore Appalachian acreage

Jan. 22, 2001
Talisman Energy Inc., Calgary, and Seneca Resouces Corp., a unit of National Fuel Gas Co., Buffalo, NY, formed a joint venture to explore in the Appalachian basin of the US. The 5-year agreement includes nearly 1 million acres in western New York and northwest Pennsylvania.


Talisman Energy Inc., Calgary, and Seneca Resouces Corp., a unit of National Fuel Gas Co., Buffalo, NY, formed a joint venture to explore in the Appalachian basin of the US.

The 5-year agreement includes nearly 1 million acres in western New York and northwest Pennsylvania. Talisman said this is one of the oldest oil and gas producing regions in North America, with 150,000 wells in the area, most of which are low productivity and shallow.

Talisman and Seneca Resouces will target Ordovician gas prospects at 6,500-11,000 ft. They are reviewing existing seismic, and expect to drill the first well later this year.

Talisman will earn 55% interest in wells drilled, while Seneca will maintain a 44% interest.

Seneca will also participate in selected opportunities on Talisman acreage in western Canada.

Talisman Energy Inc. has operations in Canada, the North Sea, Indonesia, Sudan, Algeria, Trinidad, and Columbia.

Houston-based Seneca Resources Corp. explores for and produces natural gas and oil in the lower 48 States, the Gulf of Mexico, and Canada.