Geomet, Inc. (GMET) has significant acreage under lease in Northern Alabama that is prospective for the Chattanooga Shale. The company recently released data on some of the geological characteristics of the Chattanooga Shale.
Thickness – 35 to 75 feet
Depth – 1600 to 2100 feet
Organic Content – 9% to 16%
Reserves (Vertical) – 300 million cubic feet
Reserves (Horizontal) – 500-800 million cubic feet
Well Cost (Vertical) - $450,000
Well Cost (Horizontal) - $1.1 million
Porosity – 4%
Gas in Place – 8 to 15 billion cubic feet per section
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