Cunningham Oilfield Services

Jan 21, 2014

Cunningham Energy merges with Pettey Oilfield Services Inc. to formDrilling and Well Services Arm January 21, 2014 10:54 AM Eastern Standard Time CHARLESTON, W.Va.--( BUSINESS WIRE )-- Cunningham Energy , an Independent Oil & Gas Exploration and Production Company based in Charleston, WVa, today announced it has merged with Pettey Oilfield Services Inc. to form Cunningham Oilfield Services (COS), offering a complete package of well service solutions for Oil & Gas production companies. Services offered by the newly formed arm include full vertical and horizontal contract drilling, completion drilling, service/swabbing rig work, cement services, plugging services, well location and right of way construction, pipeline construction, and commercial trucking. “Pettey Oilfield Services has been operating successfully in the Appalachian Basin for decades and brings unparalleled experience and relationships to our newly formed services arm,” said Ryan Cunningham, President of Cunningham Energy. “Cunningham Energy realized the benefits of merging with Pettey coupled with the need in the market place for an expansion of services during the past year. These and other factors, such as the momentum behind horizontal shallow drilling made the decision to merge very practical long term. We now currently operate three drilling rigs and are planning to add a fourth rig this year to keep up with demand from the conventional and horizontal drilling market in multiple states. The market for local dependable drilling and well services is currently under served in this basin and our goal is to fill that void with superior and timely performance.” Cunningham Oilfield Services expects to expand further into the Eastern Ohio and Eastern Kentucky markets in 2014. Cunningham Oilfield Services (COS) operates from two locations - Charleston, West Virginia and Hamlin, West Virginia, both serving the Appalachian Basin. Cunningham Oilfield Services employs a staff of highly trained professionals with well over 100 years of combined drilling and oilfield experience. About Cunningham Energy LLC Cunningham Energy LLC is a private independent production and exploration company based in Charleston, West Virginia. The company was formed in 2008 for the purpose of acquiring, exploring and producing oil and gas in the Appalachian, Illinois and Williston Basins. Since its inception, Cunningham Energy has relied on past experience in parallel with the application of new technologies to succeed in the ever changing field of efficient energy production. Cunningham Energy is positioned to take advantage of current and future trends in oil and natural gas production throughout these basins with aggressive but responsible decisions in the coming future. Certain statements contained in this press release constitute "forward-looking statements" as defined by the Securities and Exchange Commission. Such statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," approximately," "likely," or "anticipates" or the negative thereof. These forward-looking statements are based on our current expectations, assumptions, estimates and projections for the future of our business and our industry and are not statements of historical fact. Such forward-looking statements include, but are not limited to, statements about our expectations regarding our financing, our future operating results, our future capital expenditures, our expansion and growth of operations and our future investments in and acquisitions of oil and natural gas properties. We have based these forward-looking statements on assumptions and analyses made in light of our experience and our perception of historical trends, current conditions, and expected future developments. However, you should be aware that these forward-looking statements are only our predictions and we cannot guarantee any such outcomes. Future events and actual results may differ materially from the results set forth in or implied in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: general economic and business conditions; exposure to market risks in our financial instruments; fluctuations in worldwide prices and demand for oil and natural gas; fluctuations in the levels of our oil and natural gas exploration and development activities; our ability to find, acquire and develop oil and gas properties, including the ability to develop prospects; risks associated with oil and natural gas exploration and development activities; competition for raw materials and customers in the oil and natural gas industry; technological changes and developments in the oil and natural gas industry; legislative and regulatory uncertainties, including proposed changes to federal tax law and climate change legislation, and potential environmental liabilities; our ability to continue as a going concern; and our ability to secure additional capital to fund operations. Additional factors that may affect future results are contained in our filings with the Securities and Exchange Commission ("SEC") and are available at the SEC's web site  http://www.sec.gov . Cunningham Energy LLC disclaims any obligation to update and revise statements contained in this press release based on new information or otherwise. Contacts