Enerplus Resources Fund (ERF) recently added to its position in the Marcellus Shale through the purchase of 58,500 net acres in Preston County, West Virginia and Garret County, Maryland. The company will have an average working interest of 90% on this acreage position.
Enerplus Resources Fund has allocated $150 million to add to its leasehold in the Marcellus Shale in 2010. The company has 70,000 net operated acres and 127,000 net non-operated acres.
The company estimates that the acreage has original gas in place of approximately 50 to 60 billion cubic feet per 640 acres. The company plans to shoot seismic and obtain permits in anticipation of drilling in 2011.