Magnum Hunter CEO Says Conventional Gas Plays Can’t Compete, Company Drills One New Marcellus Gas Well a Month in WV
Some interesting comments made by Magnum Hunter CEO Gary Evans at the recent Marcellus Midstream Conference in Pittsburgh at their projected activity in 2011 and conventional vs. unconventional shale gas plays:
Magnum Hunter Resources Corp., is operating 182 miles of gas pipelines running across West Virginia, including Tyler County. The company’s subsidiary, Triad Hunter, successfully drilled two horizontal wells in Wetzel County that are now producing 7 million and 5.5 million cubic feet of gas per day, respectively.
"We are drilling, basically, a Marcellus well every month in 2011," said Gary Evans, chairman and CEO of Magnum Hunter. "There are no conventional gas plays that can compete with these unconventional plays," he said in reference to the ability to tap the deep Marcellus formation.*
*Weirton Daily Times (Mar 23, 2011) – Drilling growth has been rapid