About Minard Run Oil Company
Minard Run Oil Company (MROC) experienced rapid growth in the early 1980’s generating record revenues and production. In the late 1980's, Minard Run ceased the waterflood operations that had provided enhanced recovery of oil over many decades, and that had made MROC the fourth largest waterflood operator in the region (after Pennzoil, Quaker State and Kendall). In keeping with the company's commitment to environmentally responsible operations, all water intake wells were plugged and abandoned in the 1990's.
In the late 80's and 90's, declining production, general economic conditions and costly environmental responsibilities all combined to put pressure on the balance sheet. Timber sales kept the business afloat, but clearly a bold initiative was needed to assure the survival of this venerable company.
In 2000, the directors of Minard Run Oil Company made a vigorous effort to revitalize the business and entered into a joint venture to begin exploring and drilling in the local McKean County oil patch. Modest production coupled with the rise in commodity prices helped to boost MROC’s bottom line. Soon other joint venturers entered the fold and recent drilling programs have reached 70+ wells per year.
With 45 employees, MROC currently produces oil and gas from over 15,000 acres within McKean County. Over 100,000 Bbls. of oil and 340,000 Mcf of natural gas are produced annually from nearly 450 wells drilled since 2000. The program of drilling and prospecting for new opportunities initiated in 2000 continues this day.
In addition to its holdings of oil and gas producing properties, MROC also retains mineral rights to 15,000+ acres in the Devonian Marcellus Shale in the Bradford area.
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