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East Division

Seneca operates approximately 600 deep, unconventional shale wells in Pennsylvania. The region is known for its stable, long life natural gas reserves and is the site of the first oil well drilled by Edwin L. Drake in 1859. It is also home to the Marcellus and Utica geologic formations that stretch from the Southern Tier of New York state, through Pennsylvania, Ohio and West Virginia. Seneca controls 785,000 net prospective acres in the Shale Fairway in Pennsylvania. Of Seneca's Marcellus holdings, approximately 80 percent is fee acreage, with the mineral rights owned outright by Seneca with no royalty obligation or lease expiration. The remaining Marcellus land rights, approximately 20 percent, are leasehold interests, most of which are held by production. This industry-leading mineral ownership position greatly improves our production economics compared to other companies active in the Marcellus and Utica. Seneca (and its predecessor affiliates) has been an exploration and production entity in the region for more than 100 years. The Marcellus and Utica Shales are a significant focus for Seneca and represent a substantial opportunity given Seneca's existing extensive acreage position.