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The Marcellus natural gas trend is a large geographic area of prolific shale gas extraction from the Marcellus Shale or Marcellus Formation, of Devonian age, in the eastern United States. [2] The shale play encompasses 104,000 square miles and stretches across Pennsylvania and West Virginia, and into eastern Ohio and western New York. [ 3 ]
The Marcellus Formation or the Marcellus Shale is a Middle Devonian age unit of sedimentary rock found in eastern North America. Named for a distinctive outcrop near the village of Marcellus , New York , in the United States , [ 3 ] it extends throughout much of the Appalachian Basin .
Chief began drilling in the Marcellus Formation in 2007. [5] In August 2008, the company sold assets to Quicksilver Resources. [6] In September 2009, the company entered into a joint venture with Enerplus for development in the Marcellus. By that time, the company had drilled 31 wells in the formation. [5]
Derrick and platform of drilling gas wells in Marcellus Shale – Pennsylvania. Shale gas was first extracted as a resource in Fredonia, New York, in 1821, [16] [17] in shallow, low-pressure fractures. Horizontal drilling began in the 1930s, and in 1947 a well was first fracked in the U.S. [3]
EQT Corporation is an American energy company engaged in hydrocarbon exploration and pipeline transport.It is headquartered in EQT Plaza in Pittsburgh, Pennsylvania.. EQT is the largest natural gas producer in the Appalachian Basin [2] with 19.802 trillion cubic feet equivalent of proved reserves across approximately 1.8 million gross acres, including approximately 1.5 million gross acres in ...
In August of that year, the company bought 75,000 acres in Ohio's Utica Shale and West Virginia's Marcellus Shale plays from Terrence Pegula's East Resources, a $1.75 billion sale that freed up capital for Pegula to purchase the Buffalo Bills. [15] AELP invested another $251 million into Oklahoma shale drilling in November 2014. [16]
In 2010, Forbes called the company "King of the Marcellus Shale".The company had spent less than $1,000 per acre on average to acquire land suitable for drilling, compared to larger traditional oil and gas players who joined the exploration rush late in the game who had paid as much as $14,000 an acre. [6]
[7] [8] The company also acquired the natural gas business of Dominion Resources in 2010, which increased its drilling properties and made it one of the largest natural gas production companies in the Marcellus Shale formation. [9] In 2017, the company completed the corporate spin-off of Consol Energy and changed its name to CNX Resources ...