Summit Petroleum

Website

Address

9345 Ravenna Road
Twinsburg, Ohio 44087

Phone

330-487-5494

Company Description

Headquartered in Twinsburg, Ohio, Summit Petroleum was incorporated in 1984 for the purpose of exploring and developing oil and natural gas prospects.

Since early 2015, Summit has owned and operated over 150 conventional Clinton wells and unconventional oil and gas wells, expanded to include a field office in Cambridge, OH. By understanding the ins and outs of the oil and gas industry through having experience as an E&P company, Summit identified there was a fit and need in offering Production and Pipeline Operating services to other E&P companies.

Operations

Summit Petroleum Texas Operations are focused in the Permian Basin and the Spraberry formation.

The Permian Basin, which spans western Texas and eastern New Mexico, represents the most prolific hydrocarbon production region in the United States. They accounted for about 30% of U.S. crude oil production and 14% of U.S. natural gas production (measured as gross withdrawals) in 2020. Technology innovations, such as longer lateral wells and multi-well pad drilling, has helped reduce costs and increase productivity in developing oil and natural gas resources in the Permian Basin.

Spraberry Trend covers a large area – around 2,500 square miles. As most often defined, the Spraberry includes portions of Irion, Reagan, Upton, Glasscock, Midland, and Martin Counties. In 2007, the U.S. Department of Energy ranked The Spraberry Trend third in the United States by total proved reserves, and seventh in total production. Estimates have the Spraberry Shale holding up to 10 billion barrels of oil as well as 3 trillion cubic feet of natural gas. Global Hunter estimates the play’s potential recovery resources range from 4.2 to 8.8 billion BOE