Marcellus: Low Cost, High Reserve Play

摘要

As the US "shale gale" leaves producers struggling to make money in the face of miserably low natural gas prices, two new reports suggest the giant Marcellus Shale may be one of the country's least expensive plays (WGI Nov. 14' 12). The first, from ratings agency Standard & Poor's (S&P), says rates of return from the Marcellus — which lies under parts of Pennsylvania, West Virginia, New York, Ohio and Maryland — may be around 12% for dry gas and 30% for wet gas, assuming a long term price of $3.50 per million Btu, about 200 below current levels. S&P analysts say the returns are "significantly higher than for other key shale gas plays, including the Haynesville, Fayetteville, Barnett, Woodford and Eagle Ford ... due primarily to the lower finding, development and production costs associated with the Marcellus."