____________________________________________________________________________________ Riverside Energy Group

into the Antrim Shale play . Each acquisition created further potential for operational efficiencies , including gas production facility consolidations and leveraging our business systems , internal support staff and network of service providers .”

Operating efficiencies

It has been through building the leading position in the Antrim Shale that Riverside has become the number one producer of natural gas in Michigan . The Antrim Shale was developed by the likes of CMS , DTE , Atlas , and Chevron in the 1990s to early 2000s .

“ Since the Chevron asset acquisition in 2016 , Riverside has made nine additional bolton acquisitions of Antrim properties ,” Rob reflects . “ We were able to buy assets that were less valuable in the hands of the sellers than in our hands because of our scale and lower operating costs . From its working interests in

7000 wells and 5600 operated wells across Northern Michigan , Riverside ’ s daily gross sales in Michigan exceed 130 Mmcf natural gas . To put that into context : if converted to electricity , that ’ s enough energy to power almost 600,000 Michigan households each day . Riverside also holds over 650,000 acres in the Antrim formation and over 300,000 acres of deeper mineral rights in Michigan .”

One example is the January 2023 acquisition Riverside made of a package of natural gas assets from Trendwell Antrim Inc , which further strengthened the company ’ s presence in the Antrim Shale area .

“ Trendwell ’ s Antrim units were each contiguous with at least one of our existing Antrim properties , so this pick-up of 217 wells made a lot of sense and established Riverside as the operator of over 60 percent of the Antrim ,” Jim states . “ The assets were absorbed within the existing operational framework ,

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