While the shale gas drilling boom has led to success for many businesses, risk is always a factor for entrepreneurs and the businesses with which they work.

An example of that risk is US Energy Services LLC, a startup trenching and pipeline construction company that operated out of a building at 122 Etna St., Butler.

On June 20 it filed for Chapter 7 bankruptcy protection after just two months in business. According to court documents, the business was in existence only from March 23 to May 20.

However, during that time, US Energy spent more than $1.5 million while bringing in $1.46 million from a single customer, Poly-Cor Enterprises LP of Washington County.

About $900,000 of US Energy’s expense was payroll, and another $533,000 was for equipment and supplies.

In addition, court documents list US Energy having more than $351,000 in liabilities to 116 creditors nationwide, including 88 people from multiple states, as well as taxes and debts to local, state and federal governments.

Butler County entities listed in court documents to which US Energy owes money include:

• RECO Equipment in Cranberry Township, $65,000 for equipment rental

• Sumner McDanel, a Renfrew attorney and managing partner of the real estate holding company that leased an office to US Energy, $16,613 in rent

• ProGas in Zelienople, $8,146, for fuel

• Heather Hill Bed & Breakfast in Forward Township, $1,200 for lodging

• Two county residents who worked for the company, about $1,000 in wages

• Butler County treasurer, $221 in taxes

• Ken-Fab Weld in East Butler, $139 for welding supplies

• Murphy Tractor and Supplies in Cranberry Township, an unknown amount for equipment rental.

Multiple phone calls to US Energy Services’ office were not answered.

Court documents list the owners of US Energy Services as Dan Sterk of Coral Springs, Fla.; Stephen Casciola of East Branch, N.Y.; and Harry Buck of Troy, Bradford County. Bankruptcy filings indicate Sterk is the managing partner.

Calls made to Sterk and Buck were not returned. A number for Casciola could not be found.

The attorney for the company, John Cook of Cook & Tate in McCandless Township, Allegheny County, is away and unavailable this week.

Jeffrey Sikirica, the bankruptcy trustee for US Energy, also was unavailable. However, an employee at Sikirica’s office said after the initial creditors hearing, which is Aug. 18 in Pittsburgh, more information will be known.

Jason DiAngelo, vice president for pipeline operations for Poly-Cor, confirmed US Energy did some work for Poly-Cor in the Butler area.

However, he would not elaborate on what he said has become a frustrating situation.

“I’m done talking about it,” he said. “I’ve had enough with these guys.”

Bankruptcy filings indicate Poly-Cor paid US Energy about $1.46 million in six payments between March 17 and May 8.

In court documents, US Energy shows $224,710 of its $227,710 in assets are accounts receivable from Poly-Cor. US Energy alleges Poly-Cor did not meet a scheduled payment for a $499,356 project — the fourth US Energy did for Poly-Cor.

Poly-Cor provides services to the oil and gas industry. According to its website, customers include major operators and transmission companies such as XTO Energy, Rex Energy, NiSource and MarkWest.

While potential causes for US Energy to go under so quickly — expanding too quickly, limited capital or limited customers — are not known, Sterk and Casciola share some questionable history.

In 2001, the Thailand Securities and Exchange Commission charged Sterk and Casciola, who owned International Asset Management Co. at the time, that they conspired to conduct unlicensed securities business in Thailand and engaged in fraudulent activities against foreign investors.

Thai investigators raided the company and seized documents in August 2001 and found that IAM operated businesses without having licenses and fraudulently acted against foreign investors.

The company used Thailand as a base to make telephone contacts to get investors to make investments in overseas markets, and commission fees were charged to those investors. Later on, investors had trouble getting their money back or getting in contact with IAM.

Evidence indicated that IAM frequently changed its places of business and attempted to conceal its business operations by renting virtual offices to avoid direct contacts from investors. Investigators also said the company misled investors about the resale value of securities offered.

According to reports, both men fled Thailand for Europe and continued to sell securities.

In 1994, Sterk was sued by the U.S. Securities and Exchange Commission for selling unregistered shares in a cable television business. He settled the suit.

Eagle staff writer John Bojarski contributed to this report.