Pin Oak Energy Partners Closes Acquisition with Seneca Resources Corporation for Marcellus and Utica Assets in Pennsylvania

AKRON, Ohio–(BUSINESS WIRE)–Pin Oak Energy Partners LLC (Company or Pin Oak Energy) announces that
it has closed a transaction with Seneca Resources Corporation (Seneca
Resources) to acquire Marcellus and Utica/Point Pleasant assets in
Forest, Elk, McKean and Cameron Counties in Pennsylvania.

Pin Oak Energy CEO, Christopher Halvorson, stated, “This acquisition
concludes a very active 3rd quarter 2017 for Pin Oak Energy. The Seneca
Resources acquisition marks our third transaction in a 90-day period. It
is a credit to the leadership team and employees of the Company to both
successfully manage our existing operations while simultaneously
allocating the time and resources to complete these acquisitions in such
a short period of time. Pin Oak Energy's success is a product of our
people.”

The acquisition includes 14 producing Marcellus Shale wells and 2
producing Utica/Point Pleasant Shale wells across eight total pads
producing from approximately 4,300 gross acres. The assets have current
daily production of 6.1 MMcfe/d.

“The Seneca Resources’ assets are a great fit to our expanding
unconventional footprint in Pennsylvania and further demonstrate the
Company’s ability to source acquisition opportunities, work through
mutually agreeable transaction terms, and ultimately close the deal. We
are very pleased with our ongoing efforts of executing our growth
strategy of both conventional and unconventional assets,” says Mark Van
Tyne, Chief Business Development Officer of Pin Oak Energy.

About Pin Oak Energy

Pin Oak Energy Partners LLC is an Appalachian Basin energy company
engaged in the exploration and production of conventional and
unconventional oil and natural gas wells and the operation of associated
assets. The Company currently operates 379 wells producing nearly 12.0
MMcfe/d (16% liquids) across more than 36,300 acres and is also involved
in midstream, field services and operations through its affiliate
companies. Visit Pin Oak Energy at www.pinoakep.com.

Contacts

Pin Oak Energy Partners LLC
Mark Van Tyne, 1-888-748-0763 Ext. 701
[email protected]