Since the early 1950’s, when the Founder, Seaborn Jacobs, began mining coal, PENNECO and its predecessor companies have been active in real estate and the mineral industries; construction, land development, quarrying, coal mining, leasing, pipeline construction and oil and gas exploration and production businesses.
PENNECO Oil Company was incorporated in 1979 and, since that time, has conducted exploration and production operations in the Appalachian Basin and in other basins in the continental U.S. The company currently owns interests in over 1,200 wells located in Michigan, Oklahoma, Pennsylvania, Utah and West Virginia. PENNECO is active in several shale plays, including the Marcellus, Rhinestreet and Bakken shales.
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