pipeline and more than 250,000 net acres in West Virginia alone . However , the company also boasts intangible assets and specialized expertise that distinguish it from other exploration , production and midstream companies .
“ We are uniquely qualified to manage the exploration process not only because of our history in Appalachia but primarily because of our interest in it ,” says Chad Perkins , Greylock ’ s senior vice president of operations . “ We are keenly effective because of the way we work . Our team is a design-bid-build shop . That means we perform all the technical and engineering design work , request pricing from contractors , manage the economics and physically execute the work on our locations . These tactics not only help us compete with our larger , public competitors , but they also give us a distinct advantage .”
According to Ryan Deaderick , Greylock ’ s senior vice president of production , the company has created for itself a nice niche in the market . “ We have the expertise and manpower to provide customized design-build projects for downstream users of natural gas . We can turnkey midstream or transportation capital projects for large natural gas consumers on time and on budget .”
Deaderick cites a power plant in central Pennsylvania that recently converted to natural gas . “ We worked with them to design and build facilities to deliver a consistent and reliable source of natural gas so they could convert a power plant — which was formerly powered by coal — to natural gas ,” he says . “ Thanks to our culture of teamwork , we have developed a reputation for quality with particular expertise and knowledge about the midstream business in Appalachia . That is why downstream users like industrial manufacturers and power producers have begun bringing their supply challenges to us . We offer an invaluable service that simply can ’ t be found elsewhere .”
An Experienced Team
While its assets and services are critical to its success , it is the company ’ s experienced team that truly distinguishes it from other energy companies . Greylock ’ s senior management team has more than 120 combined years of experience in the energy industry — most of it in Appalachia .
“ The most important factor that sets us apart from other operators is our people ,” says Mork . “ Our partners recognized the value of the team we have compiled : our senior leadership , our management team and our frontline employees . It is our experience — from design , drilling and completions to production , transportation and delivery to end users — that is most significant . Our people ’ s abilities to innovate and maximize the productivity of our assets truly set Greylock apart from other operators .”
Boundless Opportunity
Significantly depressed commodity prices and a limited infrastructure to transport natural gas has created a challenging environment for the energy industry in Appalachia over the past two years . However , a recent announcement by China Energy to invest $ 84 billion in West Virginia for shale gas development and chemical manufacturing along with the proposed Appalachia Storage and Trading Hub have created promising signs of opportunity for the energy industry in the Mountain State and the broader region .
“ These two announcements , along with the Shell cracker project in southwest Pennsylvania , are creating opportunities for growth and advancement that Appalachia hasn ’ t seen in decades ,” says Mork . “ I expect these projects to attract new manufacturers and ultimately open up new markets for natural gas both as a power generator and a feedstock .”
Mork is optimistic about the future of energy in the Mountain State from the helm of Greylock . “ The Appalachian Basin is the best gas basin in the country ,” he says . “ If you are a big consumer or involved in any sort of manufacturing , it makes a lot of sense to look at locating in Appalachia . The future of energy in this region is very bright .” •
Taking Stock
Headquartered in Charleston , WV , Greylock Energy has several offices in both West Virginia and Pennsylvania , as well as operations across the U . S . The majority of the company ’ s assets are located in the Appalachian Basin , including :
• 4,400 wells
• 2,600 miles of pipeline
• 900,000 acres , more than 250,000 of which are located in the Mountain State
Source : www . greylockenergy . com
WWW . WVEXECUTIVE . COM SPRING 2018
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