UnionTown Energy Inc. is an independent oil & gas company that trades on the OTC Bulletin Board. The company’s focus is on the acquisition, development and production of oil and natural gas properties. They are pursuing a strategy of building a portfolio of energy producing assets. This includes coal bed methane, natural gas, shale gas, oil sands and deep natural gas throughout Western Canada and the United States.
UnionTown Energy Inc.’s flagship property is located in Kansas within the Cherokee basin which straddles Kansas, Missouri, Arkansas and Oklahoma. The area has been producing gas from shale and coal deposits for more than eighty years and has 2.8 Tcf of potential recoverable CBM. The potential coalbed methane resource for this basin is generally defined by the presence of four or more seams in the Cherokee Group.
Their property is approximately 45,000 Gross acres with an estimated 163 Bcf gross gas in place. With the large amount of infrastructure nearby, and ability to purchase more leases, UnionTown Energy Inc. intends to build a large scale Natural Gas producing production plant, which will feed into domestic natural gas wholesalers and suppliers.
Other advantages include their location to strong and insulated gas markets, many competing pipeline companies and end-users, and historical production from coals and black shales. They also have access to new shale recovery technologies and the coal section that contains from three feet to over fifty feet of net coal.
UnionTown Energy is employing Hydraulic fracturing (Hydrofracturing) technology to extract gas from the coal deposits on their UnionTown leases. Hydrofracturing is a well development process that involves injecting water under high pressure into a bedrock formation via the well. It is a method used to force natural gas out of shale rock deposits.
Last week, UnionTown Energy Inc. announced that Mr. Terry Fields has been appointed to and accepted the position of CEO & President at the Company. Mr. Fields has held executive management and director positions in over a dozen publicly traded companies in both the United States and Canada, with his interest focused mostly in the resource area. He currently holds the position of Officer and Director, on the Boards of Daulton Capital Corp., First Pursuit Ventures Ltd., Willow Creek Enterprises Ltd. and is a Director of Meadow Bay Capital Corp.
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