Canonsburg-based Huntley & Huntley Energy Exploration recently changed its name to Olympus Energy.
Olympus Energy reflects a focus on driving energy leadership within the Appalachian Basin, the company said, while also signifying a focus on developing assets and continuous improvements.
“Our transformation comes at a time of exciting growth and opportunity for our company,” M. Chris Doyle, Olympus Energy president and CEO, said. “Our initial delineation wells have outperformed expectations, providing the platform to differentiate ourselves as an emerging leader within the basin.”
The company has completed 10 Marcellus wells east of Pittsburgh. Drilling is paused but will continue during the fourth quarter of the year.
Active wells are located in Plum and Upper Burrell, and in Allegheny, Elizabeth and Penn Townships. One is planned for Murrysville.
Olympus is a privately-held independent natural gas company founded in 2012 by Huntley & Huntley and is majority owned by private equity firm Blackstone. It specializes in the development of natural gas resources in the Appalachian Basin and owns more than 100,000 acres in the Marcellus, Utica, and Upper Devonian areas.
The company employees approximately 50 people and is expected to grow.