US Natural Gas Corp WV’s ("WV") operations were based in the Butler District of Wayne County, West Virginia and were primarily concentrated on the production of commercially viable natural gas. WV operated 122 natural gas wells drilled from depths of 2100" to 5100' and produced from the Berea, Huron and Devonian Shale formations.
The Company's wells were previously shut-in from June 2005 to April 2010 due to a delivery constraint. WV entered into an agreement with a third party to allow for the purchase of its natural gas production on a firm capacity basis which management believes will remedy the prior transmission constraint.
On July 31, 2014, the Company closed on its Asset Purchase Agreement with Bayport International Holdings, Inc. for the sale of certain assets held by the Company in West Virginia.