Marcellus Shale

Endeavour International To Buy Additional Marcellus Shale Leasehold

Endeavour International Corporation (END) disclosed the purchase of leasehold acreage in Pennsylvania that is prospective for the Marcellus Shale.  The purchase increases the company’s exposure to a total of 68,000 net acres.

Endeavour International Corporation will pay SM Energy Company (SM) and others $110 million for 50,000 net acres in McKean and Potter counties. The company is also receiving pipeline and other midstream assets as part of the purchase.

Endeavour International Corporation said that the properties have three producing wells with production between 3 million and 4 million cubic feet of natural gas equivalents per day.

St. Mary Land & Exploration Company - Marcellus Shale Update

St. Mary Land & Exploration Company (SM) recently updated its operations in the Marcellus Shale. The company has 41,000 net acres under lease in the Marcellus Shale, with 17,000 acres in McKean County and 24,000 acres in Potter County.

St. Mary Land & Exploration Company has drilled and completed two horizontal wells in McKean County, Pennsylvania. The Potato Creek 1H and the Potato Creek 3H are waiting for completion of a temporary sales pipeline. St. Mary Land & Exploration Company plans no more drilling in the Marcellus Shale in 2009.