Marcellus

Marcellus Shale ImageThe 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

BHI: US rig count plunges in 15th straight week, spurred by offshore dropoff

Mar 20, 2015

The US drilling rig count fell 56 units—41 of which targeted oil—to settle at 1,069 rigs working during the week ended Mar. 20, capping off the 15th consecutive week in declines, according to data from Baker Hughes Inc.

Transco files FERC application for Dalton expansion project

Mar 20, 2015

Transcontinental Gas Pipe Line Co. LLC (Transco), a wholly owned subsidiary of Williams Partners LP, has filed an application with the US Federal Energy Regulatory Commission for its Dalton expansion project, which would transport Marcellus shale gas to the US Southeast for electric power generation and local natural gas distribution.

Pennsylvania governor proposes natural gas severance tax

Mar 9, 2015

Pennsylvania Gov. Tom Wolf proposed a $29.9-billion budget on Mar. 3 that includes $2.5 billion of net tax increases for fiscal 2016, including a 5% severance tax on natural gas.

BHI: US rig count plunges 75 units to lowest total since 2009

Mar 6, 2015

The US drilling rig count plunged 75 units—all on land—to settle at 1,192 rigs working during the week ended Mar. 6, according to data from Baker Hughes Inc.

Magnum Hunter names reservoir engineering vice-president

Mar 5, 2015

Magnum Hunter Resources Corp., Houston, has appointed Charlie Gibson as vice-president of reservoir engineering, effective. He will report to Gary C. Evans, chairman and chief executive officer.

Pennsylvania governor proposes natural gas severance tax

Mar 3, 2015

Pennsylvania Gov. Tom Wolf proposed a $29.9 billion budget on Mar. 3 that includes $2.5 billion of net tax increases for fiscal 2016, including a 5% severance tax on natural gas.

Noble Energy's budget down 40% in 2015

Feb 27, 2015

Noble Energy Inc., Houston, plans to spend $2.9 billion in 2015, representing a 40% reduction from 2014. The company also reported full-year 2014 net income of $1.21 billion and adjusted income of $881 million.

Antero Resources cuts 2015 Marcellus spending vs. 2014

Feb 26, 2015

Antero Resources Corp., Denver, said it plans to spend $1.6 billion during 2015 for drilling and completion activities in the Marcellus and Utica shale plays, marking a 36% reduction as compared with 2014 drilling and completion expenditures.

Noble Energy’s budget down 40% in 2015

Feb 20, 2015

Noble Energy Inc., Houston, plans to spend $2.9 billion in 2015, representing a 40% reduction from 2014. The company also reported full-year 2014 net income of $1.21 billion and adjusted income of $881 million.

Texas private equity firm to help fund Pennsylvania gas-fired power plant

Feb 19, 2015

Panda Power Funds agreed to jointly develop a 1,000-Mw Pennsylvania power project that will use natural gas from the Marcellus shale, the Dallas private equity firm reported.

Magnum Hunter slashes budget by 75%

Feb 18, 2015

Magnum Hunter Resources Corp., Houston, plans a $100 million upstream capital expenditure budget for 2015, down from the $400 the company planned for 2014.

FERC approves Constitution pipeline to move Marcellus gas northeast

Feb 10, 2015

The Marcellus and Utica natural gas plays have made headlines for years, but moving the gas to end users to the East has not been easy due to a limited pipeline capacity.

Marcellus briefs

Feb 10, 2015

Pennsylvania contemplates tax hikes to fix $2 billion deficit

Feb 10, 2015

A severance tax on unconventional natural gas development and production is likely to be part of Pennsylvania Gov. Tom Wolf's scheduled Mar. 10 budget address.

New York state decides to ban hydraulic fracturing

Feb 10, 2015

New York state officials planned in 2015 to officially ban high-volume hydraulic fracturing, which would end a temporary moratorium that has existed in the state for years pending studies on the possible health consequences of fracturing in the Marcellus shale.

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