Marcellus
The Marcellus shale play runs through northern Appalachia, primarily in Pennsylvania, West Virginia, New York, and Ohio. It is part of the Devonian black shale and the thickness of the gas-producing rock is as much as 900 feet. The formation runs an estimated 600 miles north to south, and is estimated to hold as much as 500 trillion cubic feet of natural gas, about 50 tcf of which is recoverable using current technology. It is one of the richest gas fields in North America.
The proximity to customers in Eastern urban centers is what makes the Marcellus so desirable. Fort Worth-based Range Resources was one of the early players in the Marcellus and still has a huge position in the play. Norway’s Statoil has signed a joint venture with Chesapeake Energy to work together in the Marcellus, and other US and foreign companies also are involved in drilling and infrastructure development.
Marcellus
Marcellus Shale News
Antero Resources acquires Bluestone Energy, adds to Marcellus acreage
Dec 2, 2010
Independent oil and natural gas company Antero Resources has acquired Bluestone Energy Partners, adding to the company’s Marcellus shale acreage position. |
Water: Greatest challenge for shale gas. . . and the next investment opportunity
Dec 1, 2010
There is no doubt that the so-called "Shale Gale" has taken hold in the US and is on the brink of spreading worldwide.
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Chevron buys Atlas Energy in $4.3B deal, enters shale business
Dec 1, 2010
Following recent shale asset acquisitions in Poland, Romania, and Canada, Chevron Corp. has made a large grab at the North American shale industry, particularly the gas-rich Marcellus shale.
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Antero Resources closes Oklahoma midstream sale to Cardinal
Dec 1, 2010
Antero Resources has closed the previously announced sale of its midstream assets, located in the Woodford Shale area of the Arkoma Basin, to Cardinal Midstream LLC for $270 million.
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Charities and champions: the year in review 2010
Dec 1, 2010
It's December once again, time to wrap up another year at Oil & Gas Financial Journal.
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EXCO plans $976M budget for 2011
Nov 29, 2010
EXCO Resources plans to spend $768.9 million on drilling and completions in 2011 as part of a $976.2 million total budget. |
Cabot to sell Pennsylvania midstream assets to Williams
Nov 18, 2010
Cabot Oil & Gas Corp. is selling its Pennsylvania midstream assets to Williams Field Services Co. LLC (WFS), a subsidiary of Williams Partners LP, for $150 million plus a 25-year gathering agreement. |
Burleson Cooke opens San Antonio office
Nov 18, 2010
The energy law firm of Burleson Cooke has opened a new office in San Antonio that will focus on serving companies with interests in the Eagle Ford Shale play. |
Newfield buys Marcellus acreage from transitioning EOG Resources
Nov 16, 2010
Newfield Exploration Co. has agreed to purchase nearly 50,000 net acres in the Marcellus Shale from EOG Resources Inc. for $405 million, or $8,100 an acre. |
Williams diversifies interests with Bakken acquisition
Nov 15, 2010
Integrated natural gas company Williams (NYSE: WMB) is diversifying its exploration and production interests with a recent acreage acquisition in North Dakota’s Bakken formation. |
Burleson Cooke adds lawyers to Pittsburgh office
Nov 11, 2010
Burleson Cooke has added three new attorneys to the energy law firm’s Pittsburgh office. |
Gastar acquires Marcellus Shale assets in West Virginia
Nov 10, 2010
Houston-based Gastar Exploration Ltd. (NYSE Amex: GST) has acquired approximately 59,000 net acres of leasehold in the Marcellus Shale from undisclosed private sellers. |
Chevron buys Atlas Energy in $4.3B deal, enters shale business
Nov 10, 2010
California-based Chevron Corp. will acquire Atlas Energy for cash of $3.2 billion and assume pro forma net debt of approximately $1.1 billion. The acquisition will provide Chevron with an attractive natural gas resource position primarily located in southwestern Pennsylvania's Marcellus Shale. |
Chief reaches production milestone in Marcellus
Nov 8, 2010
Dallas-based Chief Oil & Gas LLC has increased its Marcellus leasehold to 600,000 gross acres in Pennsylvania, West Virginia, and Maryland, and continues to expand its Marcellus drilling program. |
New Pennsylvania governor to lift Marcellus moratorium
Nov 3, 2010
For the oil and gas industry, one positive result of the mid-term elections is the election of Republican Tom Corbett as governor of Pennsylvania. Corbett is widely viewed as more friendly to business, particularly the petroleum industry. |
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