Beam me to Planet Gore !
Posted on 06/26/2011 7:52:23 PM PDT by RightGeek
ALLENTOWN, Pa. (AP) -- Two unexpected gushers in northeastern Pennsylvania are helping to illustrate the enormous potential of the Marcellus Shale natural gas field.
Each of the Cabot Oil & Gas Corp. wells in Susquehanna County is capable of producing 30 million cubic feet per day -- believed to be a record for the Marcellus and enough gas to supply nearly 1,000 homes for a year. The landowners attached to the wells, who leased the well access, numbering fewer than 25, are splitting hundreds of thousands of dollars in monthly royalties.
"There was definitely excitement among the team that planned out these wells and executed their completion," said Cabot spokesman George Stark.
Drilling companies knew the Marcellus held a lot of gas. They just had to figure out a way to get it out, and they say they're getting better at it all the time.
The result is that the Marcellus, a rock formation beneath Pennsylvania, New York, West Virginia and Ohio, has turned out to be an even more prolific source of gas than anyone anticipated. Energy firms are boosting their production targets, not only because new wells are coming on line but also because they're managing to coax more gas from each well.
(Excerpt) Read more at finance.yahoo.com ...
It’s nice to see technology enable the use of our own resources. Profitable, too. New jobs!
Nat gas is about $4/mcf at the moment. That’s about $120K/day for each of the two wells. Almost a million dollars every four days.
right after pa taxes it out of existance
As soon as one of his ‘handlers’ read this article to him.
Bossier Shale: The Natural Gas Source The Market Doesn’t Need
Aug 23, 2010 11:23 AM by Eric Fox
The problem, of course, is that the last thing that the natural gas market needs is another prolific source of future natural gas production. What the market needs is a prolific source of future natural gas demand.
They're working on it, they're working on it....
(The success of these fields is why there is a great propaganda push on now condemning the water and high pressure gasses used for fracking the underground rock.) The EPA and DOE and Obama really, really want these processes to fail.
On the other hand, EVERY ONE of these states is getting a large amount of the taxes being generated by the "new" gas. So, do the democrat governors and senators want the tax money (and jobs) from the new energy supplies? Or do they want Obama's vision of a dark and no-energy US economy?
What happened to CNG automobiles?
Thanks Robert A. Cook, PE.
Pardon me if my ignorance of energy is showing, however, the amount reported doesn't seem like a whole heckuva lot a gas to me.
“enough gas to supply nearly 1,000 homes for a year”
“Pardon me if my ignorance of energy is showing, however, the amount reported doesn’t seem like a whole heckuva lot a gas to me.”
Maybe that was a “per day” figure.
Have mercy, these people have journalism degrees - it’s not like they actually learned anything (useful) in school.
I'd call that quite a lot of gas, but it's all relative.
screw the “market” — what’s good for the consumers?
michaelrubinkam Touring the Marcellus Shale with Tom Ridge and PSU prof. Lots of highly technical explication giving me a college geology class flashback.
11 days ago
http://mobile.twitter.com/michaelrubinkam
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