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