Marcellus Shale

Range Resources - Marcellus Shale Third Quarter of 2011 Operational Update

Range Resources (RRC) reported an update on its operations in the Marcellus Shale during the third quarter of 2011.  The company said that current production is 350 million cubic feet of natural gas equivalents per day, and it would meet its year end Marcellus Shale net production target of 400 million cubic feet of natural gas equivalents per day.  

Southwest Pennsylvania

• Drilled 42 wells and placed 28 wells onto production.
• Producing wells in the Marcellus Shale has reached a total of 214.
• Twelve wells waiting on pipeline and 74 wells waiting on completion.

Northeast Pennsylvania

• Drilled 14 wells and placed 10 wells onto production.
• Producing wells in the Marcellus Shale has reached a total of 15.
• Eleven wells waiting on pipeline and 22 wells waiting on completion.

Midstream

Range Resources secured forty million cubic feet per day of cryogenic gas processing capacity, bringing the total to 390 million cubic feet per day.  The company signed an ethane sales agreement with NOVA Chemicals Corporation.

 

EQT Corp Updates Marcellus Shale Operations For Third Quarter Of 2010

EQT Corp (EQT) issued an update on its activities in Pennsylvania, where the company is developing the Marcellus Shale.

EQT Corp drilled 17 gross wells targeting the Marcellus Shale during the third quarter of 2010.  The company reported that average daily production from its Marcellus Shale properties was 96 million cubic feet equivalent during the third quarter of 2010. EQT Corp expects production to reach 140 million cubic feet equivalent per day by the end of 2010.

Gastar Purchases Marcellus Shale Acreage In West Virginia

Gastar Exploration (GST) reported that the company has purchased 59,000 net acres of leases in West Virginia that are prospective for the Marcellus Shale.  The acreage is located in Preston, Tucker and Pendleton Counties.  The company did not disclose the seller or the price paid for the Marcellus Shale acreage.

Gastar Exploration tested two existing vertical wells on the acreage and found that they both produced from the Marcellus Shale formation.  The company will also receive forty one miles of pipeline used in a gathering system, a salt water disposal well and seven producing conventional wells with daily production of 500,000 cubic feet per day of natural gas.