Published: November 19, 2009
AB Resources Teams with Caiman Eastern Midstream, LLC to Build Marcellus Midstream
BRECKSVILLE, Ohio - (BUSINESS WIRE) - AB Resources, a rapidly growing oil and gas exploration and development
company, has announced an agreement with Caiman Eastern Midstream, LLC
(Caiman) to build and operate midstream pipelines and facilities within
AB Resources' prime acreage in the Marcellus Fairway. The Marcellus
Shale is a gas-productive formation spread across Pennsylvania and West
Virginia and has become the premier natural gas play in the entire
Appalachian Basin. AB Resources holds a commanding acreage position in
key areas of the Marcellus Shale play and other potentially productive
horizons throughout the Appalachian Basin.
Under the terms of the agreement, Caiman will design, construct, and
install the pipeline and processing facilities. AB Resources will have
rights to up to 60,000 MMBTU per day of firm capacity with the
capability to move significantly larger overall volumes on the 30+ mile
gathering system. Caiman will be installing temporary processing
facilities to be operational upon the initial flow from the gathering
system by the end of this year. The permanent 120 MMcfd Cryogenic
Processing plant is expected to be operational by the fourth quarter in
2010.
"We are delighted to announce the partnership we have formed with
Caiman," said Gordon O. Yonel, CEO of AB Resources. "The agreement
leverages the abilities of our in-house midstream engineering group led
by David L. Ishmael, Director of Midstream Operations. David has done an
outstanding job engineering our business relationship with Caiman. We
look forward to expediting the delivery of natural gas from many of our
most productive horizontal wells."
AB Resources is a fast growing privately-held company actively engaged
in natural gas and oil exploration, development, and production in the
Appalachian Basin and elsewhere. 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 owns
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.
Of important note is the fact that AB Resources is dedicated to
preserving the natural beauty of land and environment, while it
continues to engage in safe oil and gas exploration and production.
Their motto, "We care about your property!" is well-deserved and truly
represents AB Resources' commitment to the highest standards of
industrial safety and environmental consciousness, while also providing
professional integrity and customer service incomparable in scope and
volume.
Gordon O. Yonel, CEO and founder of AB Resources, is a recognized leader
in building energy companies and creating significant shareholder value
for investors.
To learn more about oil and gas exploration and development, Marcellus
Shale and about AB Resources, please visit the company website at www.abresourcesllc.com.
CEO Gordon O. Yonel is available for questions.
AB Resources
Gordon O. Yonel, CEO
6802 W. Snowville Rd., Ste E
Brecksville,
OH 44141
440-922-1099
gyonel@abresourcesllc.com
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