New Penn State Study: Marcellus Shale Drilling Created $11.2 Billion in Economic Activity & Supported 140K Jobs in PA in 2010

A new report titled “The Pennsylvania Marcellus Natural Gas Industry: Status, Economic Impact, and Future Potential” was released yesterday by three Penn State University researchers. The report is the third in a series of economic forecasts from the same researchers and outlines the astonishing impact Marcellus Shale drilling has had and continues to have in Pennsylvania—generating $11.2 billion in economic activity in the state in 2010 and supporting nearly 140,000 jobs. The 68-page report was funded by the Marcellus Shale Coalition, an industry group based in PA (a full copy of the report is embedded below).

The report’s authors predict the Marcellus Shale play will become the nation’s leading supplier of natural gas by 2020, providing one quarter of all natural gas used in the U.S. A summary of the key findings in the report includes:

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Helpful Guide for Marcellus Landowners on Seismic Testing for Natural Gas

Seismic testing to create a map of underground geology almost always precedes gas drilling. Seismic testing has been, and continues to be, very active in Centre County, PA, appropriately named being located smack in the middle of the state. Seismic testing usually involves large trucks thumping the ground to produce vibrations picked up by computers that use the sound waves to create 2D and 3D maps of what lies beneath. Sometimes helicopters are used, and sometimes holes are drilled and small explosive charges are ignited to create sound waves.

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Should Broome County, NY Retain Mineral Rights (Including Gas Rights) on Properties Seized for Back Taxes?

In 2008, Broome County, NY starting retaining the mineral rights of properties it had seized for unpaid taxes and later resold. The policy was implemented before the Marcellus Shale was even thought of in the county. Broome County sits just across the border from Susquehanna County, PA and is squarely in the middle of what some believe to be some of the highest producing parts of the Marcellus Shale, so mineral rights and who owns the gas beneath the land has suddenly become a big deal.

Some county legislators argue that the county’s original move to retain the mineral rights violates personal property rights. Others want to keep this potential pot of gold in county coffers. A vote on the matter is due this week.

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Endeavour International Buys Lease for Additional 50K Marcellus Acres & Local Pipeline in PA from SM Energy

Endeavour International, an independent energy company, has just picked up an additional 50,000 net acres in the Marcellus Shale along with three producing wells and a pipeline, all located in McKean and Potter counties in Pennsylvania, in a deal with SM Energy. From the Endeavour press release:

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