RECENT NEWS
OilVoice  Jan 18  Comment 
There was nearly eight times more invested in asset and corporate acquisitions in the Marcellus shal ...
newratings.com  Oct 31  Comment 
WASHINGTON (dpa-AFX) - Consol Energy Inc. (CNX) and Noble Energy, Inc. (NBL) Monday jointly announced that the two companies have entered into a definitive agreement to separate their Marcellus Shale 50-50 Joint Venture. As per the separation of...
Reuters  Oct 31  Comment 
Coal and natural gas producer Consol Energy Inc and Noble Energy Inc said on Monday they would dissolve their 50-50 Marcellus shale joint venture, resulting in a payment of about...
Financial Times  Aug 25  Comment 
Production jump proves a surprise as drilling rigs have fallen
Motley Fool  Jul 19  Comment 
In one sense, the natural gas extraction business is much like the real estate business: The key is "location, location, location." And prime locations have put Range Resources, EQT, Rice Energy, Chevron, and CONSOL Energy on top in Pennsylvania.
Reuters  Jun 9  Comment 
* Antero resources to acquire 55,000 net acres in the core of the Marcellus Shale




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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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