CHARLESTON, W.Va.–(BUSINESS WIRE)–Cunningham Energy has purchased all rights to the Buffalo-Peniel Oilfield from Moser Group LLC, located in Jackson and Roane Counties, West Virginia. The purchase includes over 2700 acres of contiguous leasehold covering the total field area, along with multiple producing oil and gas wells.
“Cunningham Energy has identified this field as having strong shallow horizontal oil potential along with deeper targets in the coming future. Our company is actively identifying targets such as the Buffalo-Peniel Field for active shallow horizontal development in the Appalachian Basin,” said Ryan Cunningham.
Cunningham Energy expects to begin further field testing through currently operating wells during the coming months to determine horizontal targets on the leasehold. The Buffalo-Peniel Field was first discovered in 1930 with the drilling of the Knopp R.L. #1 well.