SUPERIOR APPALACHIAN PIPELINE, LLC
Robert Eckle, President and founder of Appalachian Producer Services, has entered into a long-term business arrangement with Unit Corporation, a Tulsa-based publicly held energy company to jointly develop mid-stream pipeline projects which will be owned and operated by Superior Appalachian Pipeline, LLC. For more information please view the Press Release below.
To better define the relationship, Superior Appalachian Pipeline, LLC ("Superior") will offer its expertise in natural gas gathering, processing and construction. Robert Eckle will act as project developer in charge of the Pittsburgh business development office. Kenneth Magyar is the director of Business Development for Superior and will be located in the Canonsburg (Pittsburgh) office.
Unit Corporation Announces New Business Partnership for Mid-Stream Operations Tuesday July 29, 2008 9:00 am ET
TULSA, Okla.--(BUSINESS WIRE)--Unit Corporation (NYSE: UNT - News) today announced that its mid-stream operations, through Superior Appalachian Pipeline LLC (Superior), has enetered into a long-term business arrangement with Robert Eckle, President and founder of Appalachian Producer Services, located in McMurray, Pennsylvania. The two companies have agreed to jointly develop mid-stream pipeline projects which will be owned and operated by Superior in the Appalachian Basin. Unit had previously announced that it opened a business development office for Superior in Pittsburgh, Pennsylvania, and it is currently staffing that office with professionals from the region. Superior will offer its expertise in natural gas gathering and processing and Mr. Eckle and his company will continue to provide marketing and natural gas management to the producer community within the basin.
Larry Pinkston, Unit's President and Chief Executive Officer, said: "Both parties recognize the critical need of pipeline infrastructure within the basin to accomodate existing natural gas currently constrained and future natural gas supplies that will be produced from the Marcellus shale and other formations. We're interested in construcing new gathering systems to both relieve existing bottlenecks and gather natural gas from these potential sources."
Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas exploration, production, contract drilling and natural gas gathering and processing. Unit's Common Stock is listed on the New York Stock Exchange under the symbol UNT. For more information about Unit Corporation, visit our website at http://www.unitcorp.com.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act that involve risks and uncertainties, including anticipated oil and natural gas prices, as well as other development, operational, implementation and opportunity risks, and other factors described from time to time in the company's publicily available SEC reports, which could cause actual results to differ materially from those expected.