Marcellus Shale Distribution
The New York Times
Posted on 04/08/2008 7:41:12 PM PDT by neverdem
Marcellus Shale Distribution
The New York Times
HUGHESVILLE, Pa. — At first, Raymond Gregoire did not want to listen to the raspy voice on his answering machine offering him money for rights to drill on his land. They want to ruin my land, he thought. But he called back anyway a week later to hear more.
By the end of February, he had a contract in hand for $62,000, and he pulled together a group of 75 neighbors who signed $3 million in deals.
“It’s a modern-day gold rush in our own backyard,” Mr. Gregoire said.
Not just his backyard either — a frenzy unlike any seen in decades is unfolding here in rural Pennsylvania, and it eventually could encompass a huge chunk of the East, stretching from upstate New York to eastern Ohio and as far south as West Virginia. Companies are risking big money on a bet that this area could produce billions of dollars worth of natural gas.
A layer of rock here called the Marcellus Shale has been known for more than a century to contain gas, but it was generally not seen as economical to extract. Now, improved recovery technology, sharply higher natural gas prices and strong drilling results in a similar shale formation in north Texas are changing the calculus. A result is that a part of the country where energy supplies were long thought to be largely tapped out is suddenly ripe for gas prospecting.
Pennsylvania, where the Marcellus Shale appears to be thickest, is the heart of the action so far. Leasing agents from Texas and Oklahoma are knocking on doors, leaving voice mail messages and playing host at catered buffets to woo dairy farmers and retirees. They are rifling through stacks of dusty deeds in courthouse basements...
(Excerpt) Read more at nytimes.com ...
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Democrats will put a stop to this ASAP.
Their Saudi and Venezuelan puppet masters told them to.
I thought all the gas in western PA was emitted by John Murtha, but it seems that there is plenty more!
Isn’t it a fact that the first oil wells in PA are still pumping oil?
With the Bakken report due out Thursday, this could be a “perfect storm” in the energy markets.
Awww...who's thinking about all the widdle bunny wabbits, cute little Bambi deer and adorable raccoons being discomfited by all this nasty, smelly machinery and noise? This must stop immediately!
Anyone ever been to these areas? Potter County in NW PA or Allegheny County in Western NY? We are talking real Appalachia-style rural poverty. Am sure the NY legislature in Albany will think of ways to take all their new-found wealth to leave them as poor as before.
Yeah a perfect storm if production were ever allowed to take place, until then enjoy $4 a gallon gasoline.
Prior to the invention of the automobile, most oil was burned in kerosene lamps. For the first 25 years of the Oil Age era, Pennsylvania was the world’s leading producer. (John D. Rockefeller coined America’s largest fortune by cornering the Pennsylvania market.) In 1891 the Quaker State produced enough oil to light the U.S. for 7 months. In 1937, when its production reached a second lower peak, Pennsylvania supplied enough to run the now motorized country for 7 days. Today the state’s oil could power the U.S. for only 3 hours. Although there are still 19,000 wells in Pennsylvania, collectively they produce a puny 6,900 barrels each day. In contrast, Saudi Arabia produces 8 million barrels—1,100 times as much—from just 1,400 wells.
Change your name to Eyore. Jeeze.
One thing for certain - the liberal wackos will find some reason to oppose it.
Eeyore? Hardly. What do you see in Americas energy policy that will allow domestic production to take place in such a way that oil and gas prices decrease? Sorry, I work in the field and i consistently see that government regulations are set up in a way that do not allow the markets to work. Most in this country believe that oil and gas companies have enough pull to get their way and produce oil and gas wherever they see fit. In REALITY the few environmental whackos in this country have far more influence on regulations than oil companies will ever dream of having. if you have ever wondered why gasoline prices are so high there is a reason, and it isn’t the lack of oil in the ground.
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Report on Bakken oil potential expected
Business Week | 4/8/08 | JAMES MacPHERSON
Posted on Tuesday, April 08, 2008 10:02:14 PM by tatown
http://www.freerepublic.com/focus/f-news/1998772/posts
That's really shallow.
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