Pennsylvania

Five operators submitted more than $128 million in bids for six tracts in five Pennsylvania state forests in the Marcellus shale gas play.

By OGJ editors
HOUSTON, Jan. 14
– Five operators submitted more than $128 million in bids for six tracts in five Pennsylvania state forests in the Marcellus shale gas play.

The high bidders are Seneca Resources Corp., Anadarko Petroleum Corp., Exco Resources Corp., Penn Virginia Corp., and Chesapeake Energy Corp. Bids ranged from $2,437/acre to $5,250/acre and averaged $4,100/acre.

The tracts total 32,000 acres in north-central Pennsylvania in Elk, Moshannon, Sproul, Susquehannock, and Tioga state forests.

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