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Cunningham Energy says it has purchased all rights to a more than 2,700-acre oilfield in in Jackson and Roane counties.

 

The private company based in Charleston says it purchased the Buffalo-Peniel Oilfield along with multiple oil and gas wells from Moser Group LLC.

 

Cunningham says the company has identified the field as having strong shallow horizontal oil potential and expects to begin further field testing through currently operating wells during the coming months.

 

The Buffalo-Peniel Field was first discovered in 1930.