Appalachian Basin

Unconventional liquids-rich natural gas and oil development in the Marcellus and Utica shales. Located primarily in West Virginia and Ohio. Property covers approximately 537,000 net acres. Held via various leases and drilling partnerships including the 2021-2024 Drilling Partnership with QL Capital Partners and a 2025 Drilling Partnership. Utica Shale Properties (approx. 80,000 gross acres in Ohio) are subject to a pending divestiture expected to close in February 2026. HG Acquisition in West Virginia closed in February 2026 adding 385,000 net acres. Flagship asset.