Interests in Energy
In 2003, Michael Zamagias partnered with Chuck Warden and Gerry Hindy to form ZHW Oil and Gas Associates, Inc.—a limited partnership specializing in locating, developing, and drilling of natural gas and oil wells. Mr. Zamagias continues to be a shareholder in this corporation and currently holds the titles of Vice President and Director.
ZHW Oil and Gas has, in turn, become the managing general partner in six subsidiary partnerships which have collectively drilled over 135 gross wells from the founding of the company through 2006. These wells are located throughout western Pennsylvania and western New York. In early 2010, ZHW Oil and Gas successfully sold approximately 80 of its wells to an energy development company at a satisfactory profit.