People Powered. Asset Strong. CONTACT US NEWS CENTER COMPANY OPERATIONS COMMUNITY SAFETY & ENVIRONMENT CAREERS HISTORY MANAGEMENT TEAM CONTACT US JOIN OUR TEAM Following the initial 2011 purchase of 50,000 acres in West Virginia, our company embarked on a series of successful natural-gas operations in which we increased production performance by 40 percent, while reducing cost-per-foot by 44 percent. Building upon this conspicuous success, we strategically explored additional acquisition opportunities, ultimately increasing our core position to approximately 208,000 net acres. 2017 Jon Farmer promoted to President & CEO Mountaineer Keystone becomes Arsenal Resources 2016 Consolidated Midstream operations, acquiring 50 percent non-controlling interest in exchange for Parent equity Concurrent with Midstream consolidation, raised approximately $160 million of new equity funding through new and existing investors 2015 Further delineated MK core acreage footprint by completing 20 wells and bringing 15 wells to sales November, Dave Wood assumes the title of CEO December, First sales into Stonewall Gas Gathering system pipeline and Transcanada’s TCO-WB pipeline 2014 October 14, MK completes acquisition of PDCM July 30, MK signs Purchase and Sale Agreement to acquire the equity interests in PDC Mountaineer LLC for an aggregate purchase price of $500 million July 29, MK signed long-term midstream takeaway deal to support full field development 2013 Initial pads in both fields are completed and tested April 28, MK records its first gas sales and revenues A third well in WV, the Mackey-Wolfe 203, is drilled to a TD of 15,398 feet with a completed lateral length of 7,000’ and brought to sales Midstream and water plans for full field development are designed and implementation of each system is initiated 2012 Near-term development plan is refined and commodity diversification strategy is initiated Initial position of 15,000 acres prospective for the Utica is identified in Ohio and actioned; leasing program increases position to approximately 28,000 acres by year end First two wells are drilled and completed in the Utica First two wells are drilled in the Marcellus 2011 First Reserve partners with MK and provides initial equity commitment Company formed on June 30th, 2011; Title-work with local land group finalized; initial acreage acquisition funded COMPANY OPERATIONS COMMUNITY SAFETY & ENVIRONMENT CAREERS © 2021 Arsenal Resources. All Rights Reserved. | Website Branding: axiom.us.com