USGS sees 84 tcf, 3.4 billion bbl in Marcellus

By OGJ editors

The Middle Devonian Marcellus shale in the US Appalachian basin contains 84 tcf of gas and 3.4 billion bbl of natural gas liquids, the US Geological Survey said Aug. 23.

The assessment, couched as undiscovered, technically recoverable hydrocarbons, is far above the 2 tcf and 10 million bbl the agency gave the formation in its 2002 assessment.

The USGS said the increase is due to new geologic information and engineering data on the unconventional play.

“Since the 1930s, almost every well drilled through the Marcellus found noticeable quantities of natural gas,” USGS said. “However, in late 2004, the Marcellus was recognized as a potential reservoir rock, instead of just a regional source rock, meaning that the gas could be produced from it instead of just being a source for the gas.”

USGS estimated that there is a 95% chance that the Marcellus holds at least 43 tcf of gas and a 5% possibility that it contains as much as 144.1 tcf. The mean is 84 tcf. There are no conventional petroleum resources assessed in the Marcellus shale.

The agency said the new estimates are for technically recoverable oil and gas resources, which are those quantities of oil and gas producible using available technology and industry practices, regardless of economic or accessibility considerations. As such, it said, the estimates include resources beneath both onshore and offshore areas such as Lake Erie and beneath areas where accessibility may be limited by policy and regulations imposed by land managers and regulatory agencies.

The assessment covered areas in Kentucky, Maryland, New York, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia. About 96% of the resource lies in the Interior Marcellus Assessment Unit, which extends from near Woodstock, NY, to Charleston, W.Va.

USGS worked with Pennsylvania, West Virginia, and Ohio geological surveys and representatives from the oil and gas industry and academia in developing the assessment.

Related Articles

PwC: Low oil prices might drive surge in restructuring in 2015

01/29/2015 Mergers and acquisitions (M&A) in the oil and gas industry hit 10-year highs in terms of deal value and volume in 2014, according to a report f...

ETP, Regency to merge in $18-billion deal

01/26/2015 Energy Transfer Partners LP (ETP) and Regency Energy Partners have agreed to merge in a unit-for-unit transaction, plus a one-time cash payment to ...

Range cuts 2015 capital budget to $870 million

01/15/2015 Range Resources Corp., Ft. Worth., has reduced its capital budget for 2015 to $870 million from the previously reported $1.3 billion, which already...

American Energy Appalachia makes executive appointments

01/13/2015 Jeffrey A. Fisher has been named chief executive officer of the newly formed American Energy Appalachia Holdings LLC (AEA), a unit of American Ener...

American Energy’s Utica, Marcellus units to merge

01/08/2015 American Energy–Utica LLC (AEU) and American Energy–Marcellus LLC (AEM), both affiliates of American Energy Partners LP (AELP), will merge in an al...

New York state moves to ban hydraulic fracturing

01/05/2015 High-volume hydraulic fracturing will be banned in New York state, Gov. Andrew Cuomo's administration announced Dec. 17, citing health risks and co...

Severance tax would backfire, Pennsylvania association leaders warn

01/05/2015 Enacting a severance tax aimed at Pennsylvania's unconventional natural gas activity would substantially harm the commonwealth beyond the industry ...

Southwestern agrees to second Marcellus acquisition this month

12/23/2014

Southwestern Energy Co., Houston, has agreed to acquire 20% of the Marcellus shale assets belonging to Statoil ASA for $394 million.

Severance tax would backfire, Pennsylvania association leaders warn

12/17/2014 Enacting a severance tax aimed at Pennsylvania’s unconventional natural gas activity would substantially harm the commonwealth beyond the industry ...
White Papers

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...
Available Webcasts

On Demand

Prevention, Detection and Mitigation of pipeline leaks in the modern world

Thu, Apr 30, 2015

Preventing, detecting and mitigating leaks or commodity releases from pipelines are a top priority for all pipeline companies. This presentation will look at various aspects related to preventing, detecting and mitigating pipeline commodity releases from a generic and conceptual point of view, while at the same time look at the variety of offerings available from Schneider Electric to meet some of the requirements associated with pipeline integrity management. 

register:WEBCAST


Global LNG: Adjusting to New Realities

Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST


The Future of US Refining

Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST


Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected