In West Virginia a large number of Marcellus wells are already producing. More are being drilled everyday. In this area IIRC they go to 12,000’. A shallow well to less than 5,000’ takes about a week to drill. My guess is it costs about $200,000 (shallow). That includes the drilling rig for about a week, the site prep., casing and cementing, logging the well after it’s to depth and fracking. A Marcellus around here would cost quite a bit more. Much bigger well location, bigger rig, More drilling time. Way more water, etc. Around here it seems like the rig is on location for about three weeks.
These are horizontal wells with around 4000’ of lateral. So, a 12,000’ well is about 8000’ deep and so on. Vertical wells are not commercial. Horizontal drilling with multi-staged fracs is what has made it commercial.