Pennsylvania General Energy Corp. Revenue and Competitors

PGE utilizes technology such as seismic testing to identify oil and gas reserves. Vibration trucks send shock waves into the ground, as shown above. A recording truck is then used to capture their return to the surface, gathering information about geologic conditions. Pennsylvania General Energy was founded in 1978 in the city of Warren by four businessmen. One of the partners purchased exploration acreage from Floyd Clinger, a well-known oil and gas pioneer in the Appalachian Basin. At the time, the partners knew little about the oil and gas business, but set out to learn all that Mr. Clinger could teach. They began buying wells in Northwestern Pennsylvania and drilling 15 to 20 wells a year to build up production and capital needed to expand their operations. In the beginning, PGE limited its exploration efforts to shallow wells. Once those operations became more profitable, the company was able to embark on bolder exploration: deep-well drilling. The company relied upon new technology, seismic testing and experienced personnel to successfully locate rich gas and oil reserves, many in areas that had been previously and extensively explored. In 1988, PGE was presented with the opportunity to acquire 80,000 acres of Quaker State's oil, gas and mineral rights in New York and Pennsylvania, along with 6,000 acres of timberland and the equipment to manage it. A second acquisition in 1995 involved the purchase of 1,200 producing oil wells and a smaller number of natural gas wells from Pennzoil Corporation, as that company moved its operations out of Pennsylvania. Part of that agreement included PGE's commitment to bring all of the wells into compliance with state environmental regulations. Today, PGE is a leading privately owned, independent oil and gas exploration and production company in the Appalachian basin. By relying on the right people, cutting-edge technology and a personal business approach, the business partners who came together in 1978 to take a chance on a new venture have built PGE into a proud and growing organization, making positive contributions to the region's economy and environment.