(Source: Business Wire)
AB Resources LLC, a rapidly growing oil and gas exploration and development company, has taken steps to establish its leadership position in Marcellus Shale exploration and development. The Marcellus Shale, a gas-productive formation spread across Pennsylvania and West Virginia, has become the premier natural gas play in the Appalachian Basin. AB Resources holds a commanding acreage position in key areas of the Marcellus Shale play and other potentially productive horizons in the Appalachian Basin.
To help establish its leadership position AB Resources has hired James K. Wilson to serve as its Vice President of Exploration. Mr. Wilson's addition to an already strong professional staff will allow the Company to further expand its operations in the Marcellus Shale and develop other high potential exploration plays to add to its operations in the Basin. Mr. Wilson will be responsible for further refining the Company's exploration and development strategy in the Marcellus Shale and identifying and evaluating other emerging exploration opportunities in the Basin. He will also source, negotiate and manage all future exploration and development joint ventures with industry partners in the Marcellus Shale and other Appalachian Basin plays.
From 2007 to 2009 Mr. Wilson served as Appalachian Basin Geoscience Manager for Chesapeake Energy Corp. where he managed the exploration and exploitation prospects in the northern Appalachian Basin. He was also responsible for the geological and geophysical analysis of the Marcellus Shale and other emerging oil and gas plays in the Basin. From 2001 to 2007 Mr. Wilson was employed as Senior Staff Geologist by Cabot Oil & Gas Corporation where he was responsible for generating and managing exploration and exploitation prospects in the Appalachian Basin. While at Cabot he generated the Marcellus Shale play and established the plan to develop the Marcellus Shale play for that company. From 1991 to 2001 he was the Senior Geologist and Acting Exploration Manager for Penn Virginia Oil & Gas Corporation. Mr. Wilson has more than 28 years of oil and gas industry experience with major integrated and independent oil and gas companies, beginning his career with Texaco USA in 1981.
"Jim Wilson has a vast amount of invaluable knowledge and experience in evaluating and exploiting the Marcellus Shale and other emerging exploration and development plays in the Appalachian Basin," said Gordon O. Yonel, CEO of AB Resources. "He knows how to successfully identify, value and manage exploration and exploitation programs. He is also highly skilled in initiating and managing joint ventures with industry partners and consummating acquisitions on favorable terms. We look to him and his technical staff to make AB Resources a leader in Marcellus Shale exploration and development," Mr. Yonel continued.
AB Resources LLC is a fast growing privately-held company actively engaged in natural gas and oil exploration, development and production in the Appalachian Basin. The Company's prime Marcellus Shale and Upper Devonian acreage in Pennsylvania and West Virginia has the potential for over 3,000 well locations. AB Resources currently has over 700 wells throughout Ohio, Pennsylvania and West Virginia, 550 of which are producing. The Company's strategic direction is to aggressively exploit its Marcellus Shale acreage throughout the Appalachian Basin in the next several years.
Please visit the Company website for more information at www.abresourcesllc.com.
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