RECENT NEWS
Forbes  Jun 2  Comment 
U.S. proven natural gas reserves continue to soar to record highs. We now have some 360 Tcf of proven gas in the ground, recoverable under current market conditions, experiencing increases of 5-8% per year. Driven by the Marcellus shale play in...
Reuters  May 28  Comment 
Natural gas production in the Marcellus shale, which has grown over the past decade from next to nothing to the source of about a fifth of U.S. output, may decline for the first time if prices in the basin remain low for much longer, according to...
New York Times  Apr 22  Comment 
In the last decade, mining corporations have sought a new Pennsylvania fuel bonanza in the Marcellus shale fields.
OilVoice  Apr 1  Comment 
Natural gas production from the Marcellus shale formation in the Appalachian basin increased to 14.4 billion cubic feet per day Bcfd in January 2015 accounting for more than 36 of shale gas prod
Forbes  Jan 6  Comment 
A study released Monday afternoon by the Seismological Society of America confirms — again — that hydraulic fracturing, or fracking, activity associated with natural gas drilling in the Ohio portion of the Marcellus Shale induced a "rare...
OilVoice  Dec 3  Comment 
WPX Energy NYSE WPX announced today it signed an agreement to sell its operations in northeast Pennsylvania and release certain firm transportation capacity to Southwestern Energy Company NYSESWN
Wall Street Journal  Oct 22  Comment 
The fracking surge in Pennsylvania’s Marcellus Shale has caused gas prices to crater, forcing drillers to re-evaluate operations.
SeekingAlpha  Oct 17  Comment 
By Daniel Jennings: Anadarko Petroleum Corp (NYSE:APC) and EOG Resources (NYSE:EOG) might be one step closer to tapping New York State's Marcellus Shale. Bloomberg reported that the two companies have reached a deal to disclose information about...




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The Marcellus Shale is a type of geological formation containing extractable Natural gas. This shale is unique in that the only geographical region where it exists runs from West Virginia through Western Pennsylvania up to upstate New York. Marcellus Shale has always been known to have obtainable natural gas, but, years ago, oil companies thought it unproductive to drill. However, high oil prices, newer drilling technology, and encouraging results from similar shale formations in Texas and elsewhere have changed this opinion.[1]

[2]

Now, companies in the natural gas industry are betting big money that this shale can be tapped for huge profits.[3] Estimates by Terry Englander, a geoscience professor at Pennsylvania State University, and Gary Lash, a geology professor at the State University of New York at Fredonia indicate that the West Virginia to New York Marcellus Shale formation has around 500 trillion cubic feet of natural gas.[4] Of that volume, they think that around 10% of the gas is recoverable, providing 50 trillion cubic feet of gas, which would be enough to supply US demands for two full years and have a wellhead value of about one trillion dollars.[5] For this reason, Oil Companies, such as Chesapeake Energy (CHK) and Cabot Oil & Gas (COG) are leasing large amounts of land for prospective drilling.[6]


References

  1. New York Times: There's Gas In Those Hills
  2. New York Times: There's Gas In Those Hills
  3. New York Times: There's Gas In Those Hills
  4. Geology.com: Marcellus Shale
  5. http://geology.com/articles/marcellus-shale.shtml Geology.com: Marcellus Shale]
  6. New York Times: There's Gas In Those Hills
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