The joint venture, known as Pennant Midstream, will combine Hilcorp and NiSource’s leaseholds in the Utica/Point Pleasant Shale formation of northeast Ohio and western Pennsylvania. Hilcorp will serve as the operator and manage the development of the combined acreage.
Pennant will build new gathering pipeline infrastructure, as well as processing facilities for natural gas liquids, to support the region’s production. The initial processing plant is set to be delivered by the end of July. The gathering system, as well as the finished processing complex, are expected to enter service by September of next year.
Hilcorp is one of the largest privately owned independent oil and natural gas companies in the country. It has over a thousand employees in eleven operating areas, stretching from the Gulf of Mexico to Alaska’s Cook Inlet.