Natural-gas producers are swarming into Pennsylvania to chase what many are betting could be the next big thing: a thick wedge of gas-bearing rock called the Marcellus Shale.
The recent surge in interest was triggered by disclosures in the fall from producer Range Resources Corp. of Fort Worth, Texas, that it had drilled a well there producing more than three million cubic feet of natural gas a day, proving that Marcellus Shale wells can be profitable. Since then, Range has reported wells that produce even more gas.
The result is a land rush unmatched anywhere else in North America as companies try to snap up drilling acreage on a giant swath of rock stretching from West Virginia across Pennsylvania to the northeast corner of the state, 90 miles
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment