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Appalachian Basin Investment Platform

An Independent
Energy Investment
& Holding Platform

Two Six Alpha LLC is a closely held investment, acquisition, and holding company — from molecules to watts — anchored by a ~10,000-acre core position in the Utica/Point Pleasant volatile oil/liquids-rich window and a Marcellus Super Rich Gas portfolio independently valued in excess of $300 million.

~10,000
Mineral & Leasehold Acres
~42,000
Acres w/ Landowner Partners
$300M+
Marcellus Portfolio Value
7
Subsidiary Operating Cos.
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Dedicated to the Appalachian Region

At Two Six Alpha, we believe the Appalachian Basin has unlimited potential. By combining deep operational knowledge, in-house legal expertise, and conviction-driven capital allocation, we are positioned to lead the next generation of energy investment in Appalachia.

Headquartered in Texas and operating across Ohio, Pennsylvania, and West Virginia, we are strategically positioned to execute on the generational opportunity emerging in the Utica and Marcellus Shale formations.

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Committed to the Highest Operational Standards

Our leadership team has extensive experience in all aspects of unconventional oil and gas development across the Appalachian Basin, combining advanced geological targeting with modern completion techniques.

Utica Shale Focus

Primary focus on Ohio's volatile oil window across Harrison, Guernsey, and Tuscarawas counties. Validated by EOG Resources, Infinity NR, and Ascent Resources with step-change well performance.

Marcellus Shale Assets

Established mineral and royalty positions across Pennsylvania and West Virginia, providing natural diversification across gas windows, NGL content, and operator mix.

Integrated Approach

In-house legal expertise, title and lease management, and full-cycle investment capability — from land acquisition through production and cash flow optimization.

Explore Our Operations
The Utica Shale Moment
Institutional capital is validating what TSA recognized early — Ohio's Utica is a world-class, multi-decade development play.
$5.6B

EOG Resources

Acquired Encino Acquisition Partners, establishing the Utica as a top-tier priority alongside the Delaware Basin and Eagle Ford. Now running 5 rigs and 3 completion crews in Ohio.

17+ Bcf/d

LNG Export Demand

U.S. LNG exports driving a structural demand super-cycle. EOG begins supplying Cheniere's facility in 2026, with 4–6% CAGR in U.S. gas demand expected through 2030.

136 Mb/d

Ohio Crude Production

Ohio condensate production up nearly 3x since 2022. Harrison County alone produced over 13 million barrels of oil in 2025, led by Utica volatile oil window wells.

"The Utica absolutely has the opportunity to be a foundational play. If we continue to have the success that we expect, you can expect us to put more capital there."
— Jeff Leitzell, COO, EOG Resources
Industry & Market Updates
EOG Utica
Top-Tier Priority
March 2026

EOG Resources Elevates Utica to Top-Tier Status in 2026

EOG has drilled 16 wells across six defined pads in Ohio in 2026, running three primary rigs in Harrison and Guernsey counties.

Read More →
Ohio Oil
Production Soars
February 2026

Oil Production Soars Across Ohio's Utica Shale

Harrison County produced over 13 million barrels of oil in 2025. Carroll County added 12.3 million barrels from Utica wells.

Read More →
Unitization
Orders 2026
March 2026

New ODNR Unitization Orders Signal Continued Expansion

Multiple new EOG unitization orders in Carroll County confirm aggressive development planning for 2026–2027.

Read More →

Building the Appalachian Basin's
Premier Investment Platform

Two Six Alpha is actively deploying capital across the Utica and Marcellus Shale formations.

Contact Us Investor Relations
Committed to the Highest
Operational Standards & Responsibility

We believe natural gas is the bridge fuel between where we stand today and where we want to be tomorrow. With its abundance in Appalachia, natural gas is positioned to be the vital source of clean energy to meet the nation's growing energy demand.

Our Operation Area

Two Six Alpha operates in the heart of the Appalachian Basin, with primary focus on Ohio's Utica Shale volatile oil window and Marcellus Shale positions across Pennsylvania and West Virginia.

🗺
APPALACHIAN BASIN OPERATIONS MAP
Harrison · Guernsey · Tuscarawas · Carroll Counties, OH
PA & WV Marcellus Shale Positions

Harrison County, OH

Primary Utica leasehold anchor. Bardall/Owens prospect: 3,099 gross acres across 26+ lessors. EOG produced 13M+ bbls oil in 2025.

Guernsey County, OH

Cyrus/Freeport prospect and top-lease pipeline. Emerging volatile oil window with strong offset operator results.

Tuscarawas County, OH

Additional prospect development area with direct EOG drilling activity and expanding unitization orders.

Environmental, Social & Governance
Our operations are guided by our deep commitment to safety, environmental stewardship, and responsible development of Appalachian resources.

Environmental Stewardship

Dedicated to responsible energy development and protection of the environment. We evaluate operations continuously to minimize environmental impact, supporting water recycling and emissions monitoring programs.

Social Responsibility

We foster an active social responsibility culture ensuring the integrity, security, and wellbeing of our team members, business partners, and local communities. These programs are embedded in our operations.

Governance

In-house legal counsel ensures full compliance with securities regulations, environmental requirements, and operational standards. Transparent reporting and rigorous investment structuring protect stakeholder interests.

Xavier Unit Type Curve — Single Well Economics
10,000 ft lateral. Three-stream development: oil + gas + NGL. Based on offset operator performance in TSA's core Harrison County position.
$15.8M
BT NPV10
109%
BT IRR
$9.9M
AT NPV10
72%
AT IRR
$12,321
BT NPV10 per Acre
Month 10
Breakeven
1.6x
Return on Investment
$8.51
F&D per BOE

Key Assumptions

Oil EUR529,724 Bbls
Gas EUR4,426,500 Mcf
NGL EUR442,650 Bbls
3-Stream BOE EUR1,488,799 BOE
Oil Price$65.00/Bbl
Gas Price$3.25/Mcf
NGL Price$28.00/Bbl
D&C Cost$12,500,000
Working Interest100%
Royalty Burden17.5%

◆ Interactive Decline Curve Calculator

Adjust parameters to model production decline and estimate EUR. Uses modified Arps hyperbolic decline methodology.

1,500 BOE/d
65%
1.20
--
5-Year EUR (BOE)
--
Est. Oil (Bbls)
--
Est. Gas (Mcf)
--
Payout (Months)

Ready to Explore Partnership Opportunities?

Learn more about our operational capabilities and current investment opportunities.

Contact Our Team
Driven to Create a
Better Future

Dedicated to a value-focused operation for our business partners, investors, and community.

Two Six Alpha LLC has strategically assembled a mineral and leasehold position of approximately 10,000 acres in its core areas of the volatile oil/liquids-rich window of the Utica/Point Pleasant formation \u2014 spanning a six-county window in the highest-quality rock of the play. In partnership with landowners, the company has acquired approximately 42,000 acres in Southeast Ohio and Northwest West Virginia.rawas counties. The Bardall/Owens prospect anchors the portfolio at 3,099 gross acres across 26+ lessors, complemented by the Cyrus/Freeport position and a robust top-lease pipeline.

The opportunity is driven by a step-change in well performance — validated by EOG Resources, Encino Acquisition Partners, and Ascent Resources — combining advanced geological targeting with modern completions. Entry costs of $2,500–$3,500/acre compare to modeled NPV10 of $12,321/acre, offering exceptional risk-adjusted returns.

The platform is built on a diverse group of organically built portfolio companies \u2014 Peninsula Minerals, Braxton Energy, Braxton Minerals (I, II, III), Braxton Technology, and Braxton Global Water and Logistics \u2014 spanning both the vertical and horizontal landscapes of the energy sector and creating asymmetric information and control advantages. Basin operational knowledge spanning both the Utica and Marcellus formations across Ohio, Pennsylvania, and West Virginia.

Two Six Alpha is primarily self-funded by its Co-Founders and Co-CEOs, partnering selectively with small groups of long-term investors through jointly owned Special Purpose Entities (Texas or Delaware LLCs) for which Two Six Alpha serves as managing member. The company does not raise capital through private placement memorandums or other regulated securities offerings.al operator with the institutional discipline of a scaled investment platform.

Structural Re-Rating

The Utica Shale is undergoing a structural re-rating mirroring the Marcellus ascent a decade ago — with superior economics, thicker pay zones, and stacked development potential.

Demand Super-Cycle

Explosive growth from LNG exports (17+ Bcf/d) and data center power demand creates the most favorable natural gas pricing environment in a decade.

Consolidation Cycle

A generational consolidation wave in the Appalachian Basin is creating acquisition opportunities at attractive valuations as private operators divest at record rates.

Ground-Floor Entry

TSA acquires leases at $2,500–$3,500/acre vs. Infinity NR's IPO-implied valuation of $12,755/acre — a compelling entry point with built-in margin of safety.

Competitive Advantages

In-House Legal Expertise

Texas-licensed attorney with integrated title, lease, and regulatory capability. Eliminates reliance on external counsel, reducing transaction costs by 3–5% per deal and accelerating closing timelines. Handles securities compliance, mineral acquisition documentation, and investment structuring.

Deep Basin Knowledge

Operational familiarity with both Utica and Marcellus formations, including sub-play economics, operator performance metrics, and county-level geological characteristics. A sourcing and underwriting edge that institutional capital cannot easily replicate.

Texas Domicile Advantage

No state income tax. Established oil and gas partnership law. Sophisticated ecosystem of energy-focused service providers, banks, and institutional investors. The most favorable legal and tax environment for energy investment vehicles.

Dual-Formation Exposure

Assets across both Marcellus and Utica formations provide natural diversification across gas windows, NGL content, operator mix, and regulatory jurisdictions spanning Ohio, Pennsylvania, and West Virginia.

Entity Structure
Parent Entity

Two Six Alpha Holdings, LLC (TX)

Fund I, LP

Institutional fund vehicle. $100M–$150M target. 1.5%/20% fee structure above 8% preferred return.

Minerals, LLC

Dedicated mineral & royalty acquisitions. Isolates mineral assets from WI liability exposure.

Co-Invest, LLC

Deal-by-deal WI participation. Selective investor access to specific transactions.

Management, LLC

Fee-earning management company. Management fees, transaction fees, and carried interest.

The Team Behind Two Six Alpha

A founder-led platform combining deep Appalachian Basin operational expertise with integrated legal, investment, and land-management capability.

Founders & Leadership
Two Six Alpha is led by a husband-and-wife team with complementary expertise spanning energy investment, legal strategy, and business operations.
Robert "Scott" Bauer, Co-Founder & Co-CEO

Scott Bauer

Co-Founder · Co-Chairman & Co-CEO

Energy investor, former senior executive, and operator focused on the Appalachian Basin. Leads deal sourcing, capital allocation, and operator relationships.

Utica Shale Marcellus Capital Markets Acquisitions

At the outset of his career, Mr. Bauer served as president of Bancroft Properties, L.P., and CPP Development, L.P., where he successfully managed a real estate development portfolio in excess of $10 million. Starting in 2005, Mr. Bauer served as the head of the Energy Division at Jones & Cannon, P.C. Following his entrepreneurial spirit, Mr. Bauer ventured out on his own and founded Braxton Acquisitions in 2008.

Mr. Bauer negotiated approximately 40% of all leases signed in the “Core Area” of the Barnett Shale during 2008. From late 2007 through early 2008, Mr. Bauer represented, on a pro bono basis, over 100,000 individual landowners. Mr. Bauer founded Braxton Energy, LLC in 2007 with $10,000 of personal seed capital. In the first year of operations, the company exceeded over $100 million in revenue.

From 2008 to 2012, Mr. Bauer expanded Braxton Energy into a strategically built conglomerate of related companies — organically founded and built under the Braxton “umbrella” — incorporating strategic and symbiotic capabilities across both the vertical and horizontal chain of the energy industry, including fresh water resources, land and mineral aggregation, midstream opportunities, rail and logistics terminals, and innovative technology. In 2012, Angela Bauer joined as an equal partner. In 2014, Braxton Minerals deployed $7M of capital over six months, building a mineral portfolio in the Appalachian Basin now valued in excess of $250 million.

Angela Bauer, Co-Founder & Co-CEO

Angela Bauer

Co-Founder · Co-Chairman & Co-CEO

Texas-licensed attorney leading in-house legal, title, lease, and regulatory strategy. Architect of TSA's integrated transaction model.

Texas Attorney Oil & Gas Law Energy & Land Title & Lease

Mrs. Bauer has brought her vast experience in the energy industry to help create and define the uniquely innovative business model of Peninsula Minerals, providing the company with a superior competitive advantage that has not only been maintained but continues to grow under Mrs. Bauer's stewardship. A licensed attorney in the State of Texas, she handles company, investment, and personal legal matters across the Two Six Alpha portfolio.

Prior to co-founding Peninsula Minerals, LLC, Mrs. Bauer served as President and Chief Operating Officer of Braxton Energy, LLC from 2008 to 2015. Mrs. Bauer served as the Title Manager for Paloma Resources, LLC from 2006 to 2008. During her time with Paloma, Mrs. Bauer oversaw all land related activities associated with the Barnett Shale division of the company, including the acquisition and divestiture of over 120,000 net acres of leasehold in the Tier 1 core area of the Barnett Shale.

Paloma sold its proven undeveloped acreage in the Barnett Shale to Chesapeake Energy for over $200 million in March of 2008. From 2004 to 2008 Mrs. Bauer also held the position of Manager for Abstract & Title Resources, Inc., a land acquisition and service brokerage firm.

Integrated by Design

Legal + Investment Under One Roof

Title work, lease drafting, regulatory matters, and SPE administration all run in-house. No outsourcing, no coordination tax — a structural edge that compounds over every transaction.

Aligned Principal Capital

The Co-Founders self-fund the platform and invest alongside every Special Purpose Entity. Skin in the game on every deal — not a management fee business dressed up as a partnership.

Direct Operator Relationships

A decade-plus of on-the-ground work in Harrison and Guernsey counties means direct lines to EOG, Ascent, Encino, and Infinity NR land teams — not broker-mediated access.

Institutional Discipline, Local Intimacy

Texas domicile, jointly owned SPE structuring, and audit-grade reporting on one side; township-level knowledge of operators, lessors, and parcel history on the other.

"We built Two Six Alpha because the Appalachian Basin deserves a platform that combines real operator knowledge with the legal and capital-markets discipline of an institutional fund. That's what we bring — every day, on every deal."
— Scott & Angela Bauer, Co-Founders

Work With Our Team

Investors, landowners, and partners — reach out directly to begin a conversation.

Contact Us
Investment Overview

Two Six Alpha is primarily self-funded by its Co-Founders. Long-term partner capital is welcomed selectively through jointly owned Special Purpose Entities. We do not raise capital through PPMs or other regulated securities offerings.

Mineral, Leasehold & Landowner-Partner Position
~10,000 acres of core mineral & leasehold across the Utica/Point Pleasant volatile oil/liquids-rich window, plus ~42,000 acres in landowner partnership across Southeast Ohio and Northwest West Virginia.
~10,000
Core Mineral & Leasehold Acres
~42,000
Acres w/ Landowner Partners
$300M+
Marcellus Portfolio Value
7
Operating Companies
Prospect GroupCountyParcelsGross AcresStatus
Utica / Point Pleasant CoreSix-County Window~10,000Mineral / Leasehold
Landowner Partnership BlockSE Ohio / NW West Virginia~42,000Aligned Partnership
Marcellus Super Rich GasMultiple$300M+ Independently Valued
Southern Wet Gas PortfolioMultipleProducing / Royalty
Molecules to Watts
Foundation

Core Position

~10,000 mineral & leasehold acres assembled across a six-county window in the highest-quality rock of the Utica/Point Pleasant volatile oil play. Anchored by direct operator relationships and decades of basin operating experience.
~10,000
Core Acres
Landowner Partnerships

Scale Through Alignment

~42,000 acres acquired in partnership with landowners across Southeast Ohio and Northwest West Virginia — long-term, aligned-interest structures rather than top-leasing or speculative flips.
~42,000
Partner Acres
Vertical Integration

Molecules to Watts

Seven organically built portfolio companies under the Braxton and Peninsula umbrellas span minerals, energy, water & logistics, and technology — creating asymmetric information and control across the vertical and horizontal landscape.
7
Operating Cos.
Self-Funded, Selectively Partnered

Two Six Alpha is primarily self-funded by its Co-Founders and Co-CEOs. We do not raise capital through PPMs or other regulated securities offerings. Long-term partner capital is welcomed selectively through jointly owned Special Purpose Entities for which Two Six Alpha serves as managing member.

How We Partner

VehicleJointly Owned SPE
DomicileTexas or Delaware LLC
Managing MemberTwo Six Alpha LLC
Investor ProfileLong-Term, Aligned
Group SizeSmall, Selective

What We Do Not Do

Private PlacementsNo
Reg D / 506(c)No
SEC-Registered OfferingsNo
Public SolicitationNo
Broker-Dealer ChannelsNo

Interested in Long-Term Partnership?

For introductions to current or future Special Purpose Entity opportunities, reach out directly to the Co-Founders.

Get in Touch
Dedicated to Supporting &
Advancing Our Communities

We believe that energy development should create lasting value not only for investors but for the communities where we operate.

Two Six Alpha recognizes that our success is tied to the strength of the communities across the Appalachian Basin where we operate. We take pride in partnering with landowners, local businesses, and community organizations that share our commitment to responsible resource development.

Our approach prioritizes transparent communication with mineral owners and lessors, fair lease terms that protect landowner interests, and partnership with local service providers. We believe that energy development done right creates economic opportunity for the entire region.

The Appalachian Basin's communities have a proud heritage of energy production, and Two Six Alpha is committed to honoring that tradition while bringing modern investment practices and environmental standards to every project we undertake.

Landowner Relations

Fair, transparent lease terms. In-house legal counsel ensures landowner interests are protected throughout the process.

Local Partnerships

Prioritizing relationships with local service providers, contractors, and businesses across Ohio, Pennsylvania, and West Virginia.

Economic Development

Energy investment creates jobs, tax revenue, and royalty income for Appalachian communities and mineral owners.

Environmental Care

Partnering with operators committed to the highest environmental standards, water recycling, and emissions reduction.

Learn More About
Our Community Engagement

We welcome partnerships with landowners, community organizations, and local businesses.

Get in Touch
Industry & Market Intelligence

Tracking the developments that matter across the Utica Shale, Marcellus Shale, and Appalachian Basin energy landscape.

EOG Utica
2026 Drilling
March 2026

Utica Now a Top-Tier Priority for EOG Resources

EOG has drilled 16 wells across six defined pads in Ohio in 2026, with activity concentrated in Harrison and Guernsey Counties. The company is running three primary rigs, confirming the Utica's elevation to manufacturing-style development status.

Source: Oil Gas Leads →
Ohio Oil
Production
February 2026

Oil Production Soars Across Ohio's Utica Shale

Harrison County wells produced over 13 million barrels of oil in 2025. Carroll County added 12.3 million barrels. EOG's Folsam CR well in Carroll County produced 195,194 barrels of oil in a single quarter.

Source: Business Journal Daily →
ODNR
Unitization
March 2026

New Unitization Orders Signal Continued EOG Expansion

Multiple ODNR unitization orders issued in 2026 for EOG operations across Carroll, Harrison, and Stark counties, including the Timberwolf CBN C and Indigo CBR C units.

Source: Ohio ODNR →
EOG
Gas Pivot
January 2026

EOG's Profound Shift in Identity — From Oil to Premier Gas Producer

EOG Resources positions its Utica dry gas assets alongside Dorado in South Texas as standalone gas plays, targeting LNG export and data center power markets with premium pricing.

Source: Marcellus Drilling News →
Northern
Utica Revival
January 2026

Rebirth of Ohio's Northern Utica Shale

Rising leasing activity, increased competition, and strong well results are drawing operators farther north. Counties once considered "fringe" are now back in play for multi-year development.

Source: Ohio Energy Advocates →
LNG &
Data Centers
August 2025

EOG Touts 'Coming Out Party' for Utica Gas Business

CEO Ezra Yacob calls the Utica a "foundational EOG asset" as U.S. gas demand is expected to grow 4–6% CAGR through 2030, driven by LNG exports and AI-powered data center demand.

Source: Natural Gas Intelligence →
Get in Touch

Whether you are a qualified investor, landowner, or potential partner, we welcome the opportunity to discuss how Two Six Alpha can work with you.

Headquarters
Texas
Operations
OH · PA · WV