Drilling in the PA Marcellus Shale Sets Blistering Pace in 2010, On Course for $7 Billion Investment

The Philadelphia Inquirer has an excellent roundup of drilling activity in the Marcellus Shale, with a listing of the top 20 active energy companies in the PA Marcellus Shale. Well worth reading and bookmarking!

The article starts with this:

So far in 2010, natural gas exploration companies have broken ground on three Marcellus Shale wells in Pennsylvania every day, triple the pace of a year ago.

The Marcellus Shale Coalition, the industry trade group, estimates that up to 1,750 wells will be drilled this year, up from 763 last year.

At $4 million a well, that’s a $7 billion investment – not counting land-acquisition costs or royalties on gas produced.*

New York needs to wake up NOW. Marcellus Shale drilling is here to stay, especially in Pennsylvania. It’s having a huge impact on jobs, investments and taxes. New York could use an extra $7 billion in investment right about now!

*Philadelphia Inquirer (Mar 14) – Gas Drilling Going Deep

Related posts:

1. New York Will See $11.4 Billion in New Investment, $1.4 Billion in New Tax Revenue, and 18K New Jobs if the Fracking Moratorium is Lifted
2. New Penn State Study: Marcellus Shale Drilling Created $11.2 Billion in Economic Activity & Supported 140K Jobs in PA in 2010
3. Drilling in Marcellus Shale Created 88K Jobs and $8 Billion Revenue in 2010, Will More than Double by 2020