In the class-action Tawney case (2009), in West Virginia, people who sold natural gas to Chesapeake and its predecessors — Triana Energy, NiSource Inc. and Columbia Natural Resources — alleged they were cheated out of some of their royalty payments, and the jury agreed.
Morgan Stanley PE committed funding to Henry Harmon’s Marcellus-shale-focused start-up Triana Energy LLC roughly a year ago, shortly before Kohlberg Kravis Roberts invested $350 million in Terrence Pegula’s Marcellus-focused East Resources.
Triana Energy is involved in the ongoing development of new energy resources in the Appalachian Basin.
Triana Energy and Marathon Oil Corporation Join Forces to Develop Marcellus Acreage
CHARLESTON, WV, February 3, 2011 Triana Energy, LLC and Marathon Oil Corporation (NYSE: MRO), through a wholly owned subsidiary, have joined forces to develop approximately 82,000 acres of Marcellus prospects in Fayette County, Pennsylvania and several counties in northern West Virginia.
Triana Energy Investments, LLC is an independent, privately held oil and gas exploration and production company headquartered in Charleston, West Virginia. Marathon is an integrated international energy company engaged in exploration and production; oil sands; integrated gas; and refining, marketing and transportation operations. Marathon, which is based in Houston, has principal operations in the United States, Angola, Canada, Equatorial Guinea, Indonesia, Iraqi Kurdistan Region, Libya, Norway, Poland, and the United Kingdom.
See: Jim Balow. "Doth Chesapeake protest too much?". The Charleston Gazette. March 12, 2009.
See: Ken Ward Jr. "Roane Gas Royalties Deal OKd, NiSource, Chesapeake to Pay $380 Million, Drop Federal Appeals." IStockAnalyst.com. Oct. 25, 2008.