Positioned for Prosperity
JENNIFER VIEWEG
GREYLOCK ENERGY
A unique combination of well-placed
properties and intangible assets along
with an expert team has made a West
Virginia oil and natural gas company
a prime prospect for investors. In late
November 2017, officials with ArcLight
Capital Partners announced they were
acquiring the vast majority of Energy
Corporation of America’s (ECA) assets
for $400 million and would form a new
Appalachian exploration, production and
midstream company: Greylock Energy.
According to Kyle Mork, the CEO of
Greylock Energy and former CEO of ECA,
the acquisition included the company’s
corporate headquarters in Charleston and
nearly all of its acreage, wells, pipelines,
buildings and facilities, the vast majori-
ty of which are located in West Virgin-
ia and Pennsylvania. All of ECA’s more
than 150 employees also made the move
to Greylock.
“We are very pleased to partner with
Kyle and his team,” says Dan Revers, Ar-
cLight’s managing partner and founder.
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WEST VIRGINIA EXECUTIVE
“They have decades of proven operating
experience in Appalachia, which is key
to executing the wealth of opportunities
that come with these assets. The Marcel-
lus is a world-class shale resource, and
this investment serves as an ideal plat-
form for additional upstream and mid-
stream growth opportunities in this im-
portant region.”
Well-Placed Properties
According to data from the U.S. Energy
Information Administration, in 2016 the
Appalachian Basin produced more than
22 billion cubic feet of natural gas per day,
which translates to more than any single
member of OPEC. That is why Grey-
lock’s strategic position in Appalachia
made the company attractive for invest-
ment. While ArcLight has made signifi-
cant investments in many energy-produc-
ing areas of the country, Greylock is the
first in its company portfolio in Appa-
lachia. Through the recent transaction,
Greylock purchased a footprint that had
been strategically built over more than
five decades, including many of the most
natural gas-rich areas of West Virginia,
southwest and central Pennsylvania and
eastern Kentucky.
According to Mork, the transaction has
positioned Greylock perfectly to capital-
ize on the shale gas revolution. “We are
fortunate to be located in one of the most
natural gas-rich areas of the country,”
he says. “ArcLight approached us about
this opportunity not only because they
were seeking to establish a strong plat-
form in Appalachia and we offered a tre-
mendous footprint but also because they
recognized the value of our phenomenal
team of employees. We are specialists in
producing shale gas in Appalachia, and
we are committed to operating efficiently,
cleanly and, most importantly, safely.”
Invaluable Assets
Throughout its areas of operation,
Greylock Energy is comprised of about
4,400 producing wells, 2,600 miles of