Huntley & Huntley is a privately-held, Pennsylvania-based corporation now in its fourth generation of ownership and stewarded by private families since its founding in 1912 as a geologic and engineering consulting firm for the oil and natural gas industry. It has also been intentionally structured to remain small, agile, networked and opportunistic as the industry has grown, changed and fluctuated over the years. During its first eight decades in business, the firm performed reserve studies, reserve appraisals, project risk analysis, and feasibility studies for both privately-owned and publicly-held institutions. The firm’s first offices were located on the campus of the University of Pittsburgh to coincide with the University’s desire in 1912 to establish the first educational department in the United States focused on the technology of oil and gas, and possibly the first such department in the world. The firm’s original founders wrote the initial textbooks and outlined the original course curriculum that led to the first college degrees in this field.
As its reputation grew as a premier O&G consulting firm, HUNTLEY developed client relationships with many significant participants in the O&G industry, and acquired extensive information on most major and minor fields. It earned a reputation for delivering competent, reliable and professional advice and supervision to help its clients locate solid, low-risk drilling opportunities. Its diverse clientele included major O&G families, corporations, financial institutions, utilities and industrial concerns including legendary O&G pioneers such as M. L. Benedum, as well as many of the US based O&G companies that emerged during the twentieth century. The Company was acknowledged for discovering many major oil fields both within and outside of the United States. For example, outside of the United States, the most notable field was located at Lake Maracaibo in Venezuela.
HUNTLEY developed a strong reputation for competence and performance based upon a proven success ratio that was among the best in its field. Consequently, the Company gained the respect of owners, drillers, and operators of oil and gas wells and reserves. Through its success over the years, HUNTLEY built and accumulated some of the most extensive privately held geologic databases in the industry.
It also designed, constructed, and managed many national and international exploration and production projects. In 1995, the firm shifted its focus from being a geologic and engineering consulting firm to exclusively developing and producing oil and natural gas reserves. Huntley has interest in nearly 600 wells across the country. In Southwestern PA, Huntley operates nearly 400 conventional oil and natural gas wells and has interests in 47 unconventional Marcellus wells. By constructing these regional wells, Huntley has earned a reputation as Western Pennsylvania’s premier urban developer of oil and natural gas. In partnership with other esteemed companies, Huntley was one of the first to experiment and successfully prove the Woodford Shale of Southern Oklahoma to be an economic horizon. Huntley has acquired nearly 100,000 fairly contiguous acres in eastern Allegheny, western Westmoreland and southern Butler counties of Pennsylvania that are being prepared for Marcellus Shale development. Huntley is proud to be Southwestern Pennsylvania’s only legacy, privately-held oil and natural gas Company developing the Marcellus Shale, and we are committed to being best-in-class in all we do.
Transition to Upstream E&P Activities
Keith Mangini, a petroleum geologist who started working at HUNTLEY in 1978, acquired HUNTLEY in 1993. Mr. Mangini has served as its Chairman, CEO & President since then. From his background with the Company he realized that its knowledge of, and contacts within, the O&G industry could enable HUNTLEY’s business model to be advanced towards becoming an active participant in the upstream O&G industry. In 1995, he began to shift the Company’s focus from being only a geologic and engineering consulting firm to a developer and producer of oil and natural gas wells and reserves primarily in the Pittsburgh metropolitan region. He formed his first limited partnership in 1995 and since then has organized an additional 25 partnerships deploying over $125 million into the upstream sector.
Mike Hillebrand, a petroleum and natural gas engineer, joined HUNTLEY as a partner in 1996 to help implement the change in direction. Mr. Hillebrand serves as the COO and Executive Vice President of HUNTLEY.
Over the next fifteen years, HUNTLEY responsibly evolved into an upstream participant by drilling and operating over 400 conventional wells in the Pittsburgh metropolitan region, which earned the Company the reputation of being Western Pennsylvania’s premier urban developer of oil and natural gas wells.
The Company’s activities have not, however, been limited to Pennsylvania. For example, in partnership with other esteemed companies, Huntley was one of the first to experiment and successfully prove the Woodford Shale of Southern Oklahoma to be an economic horizon. In all, HUNTLEY has interests in nearly 600 wells across the country, plus holdings of various acreage or royalty interests.
Under the leadership of Mrs. Mangini and Hillebrand, the Company’s services were expanded to include intermediating between driller/ operators and financial investors; month-to-month management of producing wells and fields including well work-overs, stimulations, sidetracks, and facility expansions; collection and disbursement of production payments and royalties; and financial management and reporting to land owners and investors.