The current company, established in 1992 is a separate entity from the original Allegheny Valley Railroad, which was established in the 1850s. That line, affiliated with the Pennsylvania Railroad system, followed the present company's tracks to Arnold and continued beyond, along the right upstream (southeastern) bank of the river to Oil City.

The original Allegheny Valley Railroad transported oil from the vicinity of Oil Creek and Titusville. On February 20, 1861, The Pittsburgh Post printed "The Allegheny Valley Railroad (Extracts from the Eighth Annual Report, which is important for the light thrown on the transportation of oil)." On February 5, 1862, The Pittsburgh Gazette and Commercial Journal published "Allegheny Valley Railroad—Annual Meeting of Stockholders."

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