National Fuel Gas (NFG) reported that the company’s net production from the Marcellus Shale has reached 120 million cubic feet equivalent per day as of 3/7/2011. The company has 32 operated and 27 non operated wells producing from the Marcellus Shale.
National Fuel Gas has also revised operational information on wells drilled here. The company now expects wells to cost between $5.0 million and $6.4 million due to an increased number of hydraulic fracturing stages. The estimated ultimate recovery (EUR) on several recent Marcellus Shale wells has been as high as 8 billion cubic feet.