RECENT NEWS
The Hindu Business Line  Nov 24  Comment 
Reliance Industries today said it has completed sale of its interest in one of the three shale gas assets in the US to BKV Chelsea for $126 million. Reliance Marcellus II, LLC, a subsidiary of Rel...
Forbes  Nov 13  Comment 
Pennsylvania's Marcellus shale gas play offers huge environmental and economic benefits for the entire nation.
The Times of India  Oct 7  Comment 
The asset, Marcellus Shale Play, located in north-eastern and central Pennsylvania, is currently operated by Carrizo Oil. RIL had bought a 60% stake in it for $392 million in 2010.
OilVoice  Oct 6  Comment 
Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) today announced that on October 5, 2017 , the Company ente ...
Motley Fool  Jul 26  Comment 
Analysts see profits continuing to flow out of the shale in the second quarter.
Forbes  Jun 19  Comment 
A Range-Antero hookup has been mentioned as a possibility and some have thought Warren Resources Inc., Rex Energy Corp. and Eclipse Resources Corp. could be picked up.
OilVoice  Jan 18  Comment 
There was nearly eight times more invested in asset and corporate acquisitions in the Marcellus shal ...




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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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