Caiman Energy of Dallas enters Utica Shale play

YOUNGSTOWN — A new company has announced plans to move into the Utica Shale play after securing $800 million in equity commitment investments.

Dallas-based Caiman Energy plans to focus its work in the portion of the shale that contains oil and heavier liquids as opposed to dry gas, but it does not yet know exactly where that will be, said Stephen Arata, CFO for the company.

The current expectations from the oil and gas industry are that the oil and heavier liquids will be found in an area that goes from Trumbull County through western Mahoning and Columbiana counties and continues South.

“We’ll be wherever our customers need us to be,” he said.

Caiman Energy is a company that does all the work in collecting gas, oil and other fluids, separates them and prepares them for distribution to customers. The company intends to build a significant amount of pipeline in the Utica Shale, Arata added.

For the complete story, read Thursday's Vindicator and Vindy.com