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

Maryland moves forward on fracturing regulations

Feb 10, 2015

Maryland state officials planned to draft regulations that would allow hydraulic fracturing in the Marcellus shale in West Maryland provided that natural gas producers abide by certain stipulations limiting the risks of water contamination and air pollution.

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

Feb 6, 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 from PwC US.

Antero trimming, delaying Marcellus drilling

Feb 2, 2015

Antero Resources Corp., Denver, has announced a $1.8 billion budget for 2015, which is down 41% from 2014. The independent said it plans to defer completions in the Marcellus during the second and third quarters to limit natural gas volumes sold into low-price markets.

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

Jan 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 from PwC US. The record breaking year was primarily driven by a significant level of deals valued at more than $1 billion, especially in second-half 2014.

ETP, Regency to merge in $18-billion deal

Jan 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 Regency unit holders, valued at $18 billion, including the assumption of net debt and other liabilities of $6.8 billion.

Range cuts 2015 capital budget to $870 million

Jan 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 represented an 18% cut compared with the 2014 budget.

American Energy Appalachia makes executive appointments

Jan 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 Energy Partners LP (AEP).

American Energy’s Utica, Marcellus units to merge

Jan 8, 2015

American Energy–Utica LLC (AEU) and American Energy–Marcellus LLC (AEM), both affiliates of American Energy Partners LP (AELP), will merge in an all-stock transaction. 

New York state moves to ban hydraulic fracturing

Jan 5, 2015

High-volume hydraulic fracturing will be banned in New York state, Gov. Andrew Cuomo's administration announced Dec. 17, citing health risks and concerns about possible contamination of air and water. The state for years has had a temporary moratorium on fracing in the Marcellus shale.

Severance tax would backfire, Pennsylvania association leaders warn

Jan 5, 2015

Enacting a severance tax aimed at Pennsylvania's unconventional natural gas activity would substantially harm the commonwealth beyond the industry itself, three oil and gas trade association officials warned.

Southwestern agrees to second Marcellus acquisition this month

Dec 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

Dec 17, 2014

Enacting a severance tax aimed at Pennsylvania’s unconventional natural gas activity would substantially harm the commonwealth beyond the industry itself, three oil and gas trade association officials warned.

New York state moves to ban hydraulic fracturing

Dec 17, 2014

High-volume hydraulic fracturing will be banned in the state of New York, Gov. Andrew Cuomo’s administration announced Dec. 17, citing health risks and concerns about possible contamination of air and water. The state has had a temporary moratorium on fracturing in the Marcellus shale for years.

EIA: US proved oil, gas reserves continue to climb

Dec 15, 2014

US proved reserves of oil and natural gas have increased by 9% and 10%, respectively, according a recent report from the US Energy Information Administration.

US Forest Service takes no stance on fracturing in national forest

Dec 12, 2014

The US Forest Service has dropped a proposal that would have banned hydraulic fracturing in the George Washington National Forest.

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