Posted August 28, 2014
Plenty of Pluck Left in the Marcellus, Report Says
Fuel Fix Blog: The Marcellus region is now the biggest natural gas shale play in the world, and there’s still about $90 billion to be made by tapping the area’s reserves, according to a study by energy analyst group Wood Mackenzie.
The Marcellus, which stretches from New York to West Virginia, produced about 15.6 billion cubic feet of natural gas per day in August, about 38 percent of total U.S. natural gas production for the month, according to the U.S. Energy Information Administration. The agency doesn’t expect the boom to taper off anytime soon, and several of the biggest companies are cashing in.
Wood Mackenzie predicted that the top 20 operators in the Marcellus will earn nearly $86 billion over the life of the play after the costs of reaching the reserves. Among the 20 largest operators are Fort Worth-based Range Resources Corp., Pittsburgh’s EQT Corp., Houston’s Cabot Oil & Gas Corp. and Denver-based Antero Resources.
For comparison, Wood Mackenzie estimated that there’s about $118 billion to be made by extracting the resources in North Dakota’s Bakken region — but most production there is higher-priced oil compared to the natural gas dominant in the Marcellus.
Read more: http://bit.ly/1nIzi8q
More industry news:
Op-Ed: Technology Will Reduce Need for Flaring: http://bit.ly/1nJfRMM
Innovation Has Shale Booming Anew: http://bit.ly/YYm1TJ
Changes Can Help WV Embrace Natural Gas Boom: http://bit.ly/1qkv0Yp
Expert: GIve Fracking a Break: http://bit.ly/YYGTKs
Shell Formally Launches 2015 Arctic Drilling Bid: http://bit.ly/1pMUK0V
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.