Presently

Oklahoma City-based Quest Resource Corp. (QRCP) has completed its purchase of privately held PetroEdge Resources for $142 million, which will give Quest 78,000 net acres of Appalachian Basin acreage with estimated proved reserves of 99.6 Bcfe. PetroEdge’s current net production was around 3.2 MMcfe/d. Simultaneous with the close, QRCP sold some of its producing wells, with estimated proved developed reserves of 32.9 Bcfe, and all of the current net production to its partnership, Quest Energy Partners LP, for $72 million. QRCP owns 100% of the general partner and a 57% limited partner interest in Quest Energy Partners. About 70,600 of the new leasehold is in the Marcellus Shale, including 41,200 net acres in Ritchie, Wetzel and Lewis counties of West Virginia and 22,200 net acres in Lycoming County, PA. Together with its existing acreage and development rights, QRCP would own the right to develop 122,600 net acres within the fairway of the Marcellus Shale and 7,300 net acres outside the fairway.