RECENT NEWS
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...
SeekingAlpha  Oct 16  Comment 
By Stone Fox Capital: While the market was focused on another ebola case in Dallas and economic troubles in Europe, the news from the quarterly operations update at Antero Resources (NYSE:AR) was potentially lost in the shuffle. The Marcellus...
Forbes  Oct 16  Comment 
The New York Stock Exchange of natural gas – or the closest thing to it – is an industrial complex of pipes and compressors sprawled over a few acres of what was once farmland in southern Louisiana.
Forbes  Sep 26  Comment 
The Marcellus is one of the company's most lucrative natural gas plays. For instance, the company is targeting a rate of return of over 110% on its wells, assuming that gas prices are around $4 per mcf, with an initial investment of around $7...




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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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