Marcellus shale in the US report - gas shale market analysis 2012-2020
Thursday, Nov 08, 2012
Research and Markets (http://www.researchandmarkets.com/research/22jdb3/marcellus_shale) has announced the addition of GlobalData's new report "Marcellus Shale in the US, 2012 - Gas Shale Market Analysis and Forecasts to 2020" to their offering.
“Marcellus Shale in the US, 2012 - Gas Shale Market Analysis and Forecasts to 2020”
Marcellus Shale Production to Increase despite Fracking Protests
Natural gas production from one the of the US's fastest growing plays, the Marcellus Shale, will climb ever higher in the face of widespread environmental and safety concerns, predicts industry analysts in this new report.
The company's latest research says that gross production from the play exploded from 80.2 billion cubic feet equivalent (bcfe) in 2009 to 1,072.3bcfe in 2011, and is set to reach 4,861bcfe in 2015 before finally stabilizing in 2020 at a massive 7,685.1bcfe.
Hydraulic fracturing, or fracking, is a process that has sparked controversy across the world, due to potential risks including ground water contamination and the compromise of air quality, and was the focus of 2010 Oscar nominated documentary, Gasland.
The Marcellus Shale runs through New York and Pennsylvania, amongst other states, and while numerous wells have been drilled across the latter, opposition from the public and some political figures in New York led to the initiation of a drilling moratorium in November 2010 - a freeze on fracking that currently remains in place.
Drilling activity in the Marcellus Shale mainly takes place in Pennsylvania, and as of March 9, 2012, the total number of drilling permits issued in this area stood at 11,772, according to the Pennsylvania Department of Conservation and Natural Resources.
Chesapeake is the number one company in the Pennsylvania section of the shale, producing 193 bcfe last year alone. Talisman Energy USA Inc. came second with 155 bcfe, while Cabot Oil & Gas Corp and Range Resources Appalachia LLC were third and fourth, with 138 bcfe and 115 bcfe, respectively.
This report provides insight into existing and potential exploration and development activities in the Marcellus Shale play.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by The authors's team of industry experts.
Source: Business Wire
To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today