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More than just an advertisement Still Free! Inside Inside Events Oil & gas news Pages 8-11 INNformer Pages 6-7 Publication of The Wells Inn Volume 4, No. 4 The Wells Inn, 316 Charles St. Sistersville, WV 26175 February 23, 2017 EQT wins Stone Energy’s Appalachia assets As part of Stone Energy’s bankruptcy proceedings, an play, according to Stone’s recent press release. should close on or around Feb. 28. EQT will complete auction for the company’s assets was held Feb. 8, at the purchase with cash-on-hand. which EQT Production Company emerged as the high Included in the sale is the large Mary Field operations bidder for Stone’s Appalachia holdings in West Virginia Wetzel County. Prior to the acquisition, financial annalist Bloomberg and Pennsylvania. “The acquired acres are within EQT’s core liquids-rich reported EQT owned and operated approximately 3.4 Pittsburgh-based EQT’s $527 million bid far exceeded development areas – primarily located in Wetzel, Mar- million acres in production in Kentucky, West Virginia, Stone’s previously announced purchase and sale agree- shall, Tyler and Marion counties of West Virginia – and Virginia and Pennsylvania and has some 13,000 miles complements the company’s adjacent operations” EQT of pipeline. ment reached with Tug Hill Inc. That October agree- said in a Feb. 9 press release. Stone Energy noted that American Petroleum Partners ment, where Tug Hill agreed to pay $350 million for Operating LLC, who submitted a final purchase price the 86,000 net acres of gas leases, has effectively been The sale includes approximately 174 new Marcellus lo- of $526 million, was selected as the back-up bidder. canceled. cations as well as 174 Marcellus wells, of which 123 are already developed and 51 in-progress, and 20 miles Based in Lafayette, Louisiana, Stone Energy entered If approved by the U.S. Bankruptcy Court for the of gathering pipelines. Chapter 11 bankruptcy protection Dec. 14 as a result Southern District of Texas, EQT will add approxi- EQT noted that 32,000 acres they acquired are outside of the financial stress brought on by the plummet of gas mately 53,000 core net Marcellus acres and drilling rights on approximately 44,000 net acres in the Uticaof their core development area and that the transaction and oil prices in 2014. Paden City Sistersville police chief takes first step ready to retire toward water By Charles Winslow hook up with PADEN CITY – For the third time in as many years this small city is looking for Friendly PSD a new police chief after Bob Postlethwait submitted his resignation following his SISTERSVILLE – Sistersville City decision to retire from law enforcement. Council took one of the steps necessary “It’s time to step back and smell the to have the Friendly Public Service Dis- roses,” Postlethwait said. He took over trict supply water to the city by author- the five-man Paden City Police Depart- izing $16,000 for a test well during a ment last April following the firing of its regular meeting Feb. 13. previous police chief. “If we don’t do something, we are on bor- rowed time,” Mayor Bill Rice said afte Postlethwait, who retired in 2003 after r serving 22 years with the Tuscaloosa, discussing a major water line break unde r Sistersville’s newest the floor at the city’s aged water plant Alabama, police department before (below) and briefly shut down the syste m moving back to Paden City, was a mem- apartment complex ready during the second week of February. ber of the Paden City Council when he entered the selection process for the new By Charles Winslow to the side is a small playground for The test well will be used to determine chief. He resigned his council position the kids (Shown above). how much capacity Friendly’s water sys- upon his appointment. SISTERSVILLE – The work is fin- tem can supply to Sistersville, which Each apartment has a covered pri- “The one thing I wanted to do was solid- ished and the rental units are ready currently draws its water from the Ohio to go at the first apartment complexvate entrance with a small storage ify the department,” he said, adding that River. By connecting to Friendly the cit y room located next to it. to be built in Sistersville in more one of his goals was to make sure all of will also be able to retire its existing his officers had police academy training. than 35 years. water plant, which dates back to the Both the two- and three-bedroom “I never intended to be here long and 1870s and, although upgraded over the Located on a hill overlooking down- apartments feature an open floor getting the department in shape didn’t years, needs to be replaced. town, with some units having views plan on the first floor with a living take as long as I figured it would. That and kitchen/dining area. The kitchen The city is also taking steps to address th e speaks volumes for these guys.” of the Ohio River, the 24-unit in- comes fully equipped with a refrig- come-qualified McCormick Greene vintage water distribution system, man y erator, range, dishwasher, garbage sections of which also date back to the “I wish him well in his retirement,” Joel Apartments is made up of three disposal and top-mounted mi- Davis, Paden City mayor, said. buildings with two- and three bed- early oil boom years. “We are working o n crowave. There’s plenty of cabinet room apartments situated on a tidy a 15-year plan to replace the waterlines Postlethwait said he has no regrets and and counter space and, although little campus. throughout the town,” Rice added. now looks forward to spending more there is a laundry room on-site, each The next regular city council meeting “It is a beautiful location,” ex- time with his wife, children and grand- unit comes with washer-dryer children. claimed Erica Pettrey, regional man- hookups. will be Monday, March 13, at 7 p.m. at ager for Woda Management and the Sistersville Fire Department. One issue facing the department is the The 800-square foot two-bedroom Real Estate LLC, the developer of relative inexperience of the police offi- units also have a half-bath on the the property. “We are proud of it.” cers who remain, with each holding the first floor, with the full bath on the The buildings feature a reclaimed rank of patrolman. Tim Shreve, the de- second floor. The 1000-square foot partment’s sergeant and acting police brick facade giving the complex an three-bedroom apartments have two chief prior to Postlethwait, quit last sum- full baths, one off of the first floor attractive and comfortable rustic mer to join Sistersville’s police depart- bedroom and the other upstairs. feel. A club room in the community ment and has not been replaced. building is available for residents to The first floor has laminate flooring use as well as computer work sta- Postlethwait submitted his resignation tions with internet connection. Off Feb. 15 to Paden City Recorder Tami Continued on page 5 Billiter and it will take effect Feb. 28. INDEX Consumer protection 5 Classified ads 11 Local lawmakers’ bill tracker 12 Regional roundup 3 Oil & gas news 6-7 2017 Legislative roundup Clements, Maroney 13 Column: Cabin fever 4 Events 8-11 West Virginia 12-15 State of the State 15
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