At current rates, the Marcellus Shale formation could become the leading supplier of natural gas in the United States within a decade, according to an analysis released today entitled “The Pennsylvania Marcellus Natural Gas Industry: Status, Economic Impact, and Future Potential.” Taken in tandem with projections released earlier this year by the U.S. Department of Energy, the report shows that the Pennsylvania Marcellus could produce approximately a quarter of America’s natural gas by 2020. Conducted by researchers at Pennsylvania State University and commissioned by the Marcellus Shale Coalition (MSC), the new study analyzes production data and industry investments, as well as the overall economic impact natural gas development from the Marcellus Shale is having Pennsylvania.
Tax Payments in First Quarter of 2011 Already Surpass 2010 Totals
At the direction of Governor Tom Corbett, the Department of Revenue today released an analysis showing that companies engaged in and related to natural gas drilling activities in Pennsylvania have paid more than $1.1 billion in state taxes since 2006.
ECA recently completed two Greene County, PA horizontal Marcellus wells as a part of a three-well pad location. These wells were the Company’s longest laterals completed to date in Greene County, and also included the most stages – a total of 21 between the two wells. ECA performed a “zipper frac” on the wells, a new completion technique designed to increase the volume of formation treated. The wells have been producing for less than 30 days, but each well has had a one-day IP rate above 4 mmcf/d, and both are producing at over 1700 psi pressure. The Company’s Greene County area is currently producing 15 mmcf/d from the Marcellus. ECA is also drilling its first six-well pad in Greene County, and anticipates drilling over 20 horizontal wells in the area during 2010.