JV Includes Marcellus In Greene, Clearfield

By Pittsburgh Business Times

Energy Corp. of America and First Reserve Corp. have formed a joint venture to build gathering lines along the Marcellus Shale in Greene and Clearfield counties, the companies said Tuesday.

First Reserve Corp. will provide $100 million to the joint venture and own a 50 percent interest in two new gathering systems that will have long-term contracts. The joint venture will also consider developing new or expanding previous systems, First Reserve said.

First Reserve Corp. managing director Mark Florian said in a prepared statement that the two systems "are ideally positioned to provide E&P operators with access to a high quality midstream infrastructure."

"This partnership will accelerate Pennsylvania infrastructure development and provide natural gas transportation capacity for all the operators in the area," said Energy Corp. of America CEO John Mork.

Copyright 2011 American City Business Journals

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