Expert says Marcellus Shale’s potential ‘beyond imagination’
By DAVID THOMPSON - dthompson@sungazette.comSun Gazette
The natural gas reserves contained in the Marcellus Shale formation are so extensive, people have difficulty grasping the magnitude of its potential impact on the state's economy, Penn State geosciences professor Terry Engelder said Tuesday during the Lycoming County Conservation District's annual awards banquet.
"The economic potential for the state of Pennsylvania is beyond imagination," Engelder said.
How big is the gas production potential of the shale?
Engelder, who is considered a leading authority on the Marcellus Shale, said the formation could contain between 167 and 515 trillion cubic-feet of natural gas.
Some sources rank the formation third behind the South Pars gas play in Qatar and the Urengoy play in Russia, he said.
Each gas well in Lycoming County likely will produce an average of 2.8 million cubic feet of gas per day, and 2.8 billion cubic feet over the life of the well, he said.
And that is a conservative estimate, he said.
Engelder said a well that produces an average of 4 million cubic feet of natural gas, at a wholesale price of $10 per 1,000 cubic feet and a royalty payment of 12 percent, could produce income of about $5 million for the owners of the land from which the gas is taken.
"Tell me that doesn't impact the local economy," he said. More...
33 comments:
so much for the no-drill nonsense.
YEAH, DRILL BABY DRILL......
We should tax the heck out of them I don't own any land so I won't get any money. I'm against this.
hehehe
We should be doing everything we can to encourage drilling in this area. I'm not saying we should destroy the land for $$$, but lets be realistic, this gas reserve has a far greater chance of saving Potter County than tourism ever did.
JMHO
I agree, DRILL, DRILL, DRILL... But let us keep in mind that it needs to be done safely and in a way that will protect the beauty of the area and the environment. I also think that taxing the production should be considered as it would be a great stimulous to the local economy.
I don't think it is possible to drill safely and not destroy the environment. This will not save potter county it will ruin it.
holy moly!
Like all taxes, once in place, you don't even see the difference.
2:00:00 PM
Are you for real? With this type of mentality we would still be in the stone age!
You still are in the stone age that is the problem.
2:00 PM
the Counties that seem to be of most interest for the Marcellus Shale are Bradford, Tioga and Lycoming. Potter County doesn't play as big a role as you may think. I'm not saying there won't be any drilling in Potter County, I'm saying the others counties will expierence most of the deep well exploration. so your concern for Potter County will be for not.
Well that is good news I am glad to here that Potter County won't get destroyed.
Hey you!..yea..you, the guy living under the rock, There are and have been gas wells, pipelines, storage fields etc. in Potter and surrounding counties for decades. To my knowledge, none of the counties have become disaster areas. Ever stop to think that it may just lower prices so people on fixed incomes wouldnt have to choose between food and heat?
Thursday, March 26, 2009 5:09:00 PM EDT
Right there with ya on your post!
Sounds like another "Not in my backyard" whiner!
Actually Potter is in the Marcellus "footprint". It is just that leasing and permitting began in Tioga and Bradford Counties prior to Potter.
Please in my backyard, please, please, please!!!!
this has the potential to be the greatest opportunity this region has ever seen.
we've seen a steady increase in layoffs and plant closings. our small business owners are in a constant struggle. each one of us knows someone who may loose their home. but the most devastating trend facing our little world, is our children. our children have been forced to move away.
simply put, our kids can't find jobs. why? because we have no jobs.
we should embrace the exploration of natural gas in the Marcellus Shale formation.
sure, I'm concerned about our beautiful, natural resources and I hope they won't be affected. but I
have confidence in our enviromental agencies' ability to regulate strict laws and impose stiff fines for those who dare ruin our landscape.
so there ... I have hope. I hope each one of us can benefit. I hope it gives us a well deserved and over due shot in the arm.
and I hope it can keep our wonderful children closer to home.
the entire country is watching. some are curious but most are envious. why? because of the opportunity.
earl
Amen, Earl. The Marcellus play which has garnered so much attention WILL bring prosperity to Potter and McKean and other near-by counties if we let it ...all of us working hard, using our heads AND resources wisely. If greed or lack of understanding re: what's truly at stake play the biggest role in this great opportunity for our economic success, then everyone loses. Whether families have land to lease or not, all of us have a chance to improve our lives when jobs come into the area ... when people have money to spend, to invest in their future. Using our heads, joining together for the common goal of protecting the land while inviting investment into our region, is a worthwhile ambition.
If these ideas bring negative thoughts into anyone's head, check out the new technology that's available to bring natural gas production to fruition. Once there is an understanding of how the future and the land can be protected at the same time, we can enjoy the prospect of area road, school, recreation, and business improvements. Increases in care facilities for the elderly, the infirmed, medical and fire departments. Libraries and churches won't have such tight budgets. These things aren't "somewhere over the rainbow". They CAN be here! Why is a pep talk needed to make us creative, responsible users of the blessings beneath our feet?
"Thursday, March 26, 2009 11:59:00 PM EDT"
Well stated, you and Earl are both on the right track, thank you, from a gas lease holder!
Yeah stiff fines like the oil companies get when they break the law. Lets see they got fined 8 million dollars oh sweet jesus that is horribly steep when you only make several billion in profit per quarter. That is like fining any of us 8 dollars. The fines given to these companies are never stiff enough to curb bad behavior. They will do what they want and they will ruin the beautiful land. Maybe your children will have some decent paying unskilled jobs available to them for the short term, but those jobs will help contribute to the destruction of the land. God forbid your children move away and get a skilled job/career in something they love and not a factory job.
9:31 am
if it's that easy for our children to leave the area to seek out their "skilled job/career", what kept you here? sheetz?
9:53 AM
Not sure what you were reading but I never said once that it was easy. Besides sheetz is a fine career path for some people.
a lot of our children will leave and that's fine. I'm okay with that. as long as they wanted too and not because they had to.
sorry about my reference about sheetz. it was the wrong thing to say.
Apology accepted. Yeah I am in full agreement with you on the jobs front. I just am concerned about the drilling and potential environmental impacts all of this could have on such a beautiful part of the country.
Wait a Minute, just wait a Minute.
Jobs? Oh yea they have started in Tioga, Lycoming and Bradford counties.
They have hired the kids over in those counties and they have them already trained.
It’s just a short drive from there to our county, so why hire here and train again?
Taxes? They are going in to the General Fund, not Potter County.
That guy in Harrisburg wants to use the money down state.
Bottom line; The Kids better move to one of those counties.
No body wants to live in Tioga, Lycoming, or Bradford counties that is the problem.
trust me, those kids who have been trained in Lycoming, Tioga and Bradford counties are going to get all the work they can handle right there. they won't be going anywhere any time soon.
I don't trust you and I don' think there will be that much work for these so called trained kids.
then I guess we'll just have to wait and see.
Meanwhile, if I were interested in a job, I'd go to the County Clerks office. these oil and gas companies
have employees in there working on title searches. you might get phone numbers. who knows, maybe Gary Kelsey has phone numbers.
it's a start.
job services, the internet, the classifieds. even the phone book can be a good source.
looking for work is a job in itself.
all I'm saying is, they may have to seek out the opportunity.
rather than wait for one.
remember, these jobs are very difficult. it's very hard work and some will steer clear for that reason alone and then claim the companies weren't hiring.
we'll just have to wait and see.
earl
they aren't hard jobs all they do is sit on their dead asses all day. Give me a break big earl.
Been doing gas and oil for a while now and the only time I get to sit on my dead *** is the ride home after an extra long day.Come on out big shot,we will be calling 911 for you before lunch.If the work dosen't put you down a mental lapse will!
My son-in-law works on a large rig in Towanda Pa and he lives in New York state, a hell of a drive but the pay is excellent!
He loves his job and works his butt off, do not put down what you do not understand!
Okay, finally, bring down the dildine on this string.
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