An article just published by the Associated Press cites two recent studies that found the Marcellus Shale natural gas field is much larger and more cost effective to drill than originally projected in government reports.
According to last week’s report from Standard & Poor’s, Marcellus Shale could contain “almost half of the current proven natural gas reserves in the U.S.”
In a separate report from ITG Investment Research, an analysis of the region’s well production data shows that production is much higher than estimates released earlier this year by the federal Energy Information Administration.
While energy companies have struggled with falling natural gas prices, the S&P report confirms that the shale formation that stretches across parts of Pennsylvania, West Virginia, Ohio and New York still boast the lowest production costs compared to other U.S. shale plays.
The result of these two findings forecast a continued boom for energy production in the Marcellus Shale region.