Pennsylvania General Energy

• Private
• US

Dow Jones Description

PGE utilizes technology such as seismic testing to identify oil and gas reserves. Vibration trucks send shock waves into the ground, as shown above. A recording truck is then used to capture their return to the surface, gathering information about geologic conditions. Pennsylvania General Energy was founded in 1978 in the city of Warren by four businessmen. One of the partners purchased exploration acreage from Floyd Clinger, a well-known oil and gas pioneer in the Appalachian Basin. At the time, the partners knew little about the oil and gas business, but set out to learn all that Mr. Clinger could teach. They began buying wells in Northwestern Pennsylvania and drilling 15 to 20 wells a year to build up production and capital needed to expand their operations. In the beginning, PGE limited its exploration efforts to shallow wells. Once those operations became more profitable, the company was able to embark on bolder exploration: deep-well drilling. The company relied upon new technology, seismic testing and experienced personnel to successfully locate rich gas and oil reserves, many in areas that had been previously and extensively explored. In 1988, PGE was presented with the opportunity to acquire 80,000 acres of Quaker Statea s oil, gas and mineral rights in New York and Pennsylvania, along with 6,000 acres of timberland and the equipment to manage it. ...

President & CEO

Number of Employees 69

Contact Information

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