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| Apr21Written by:Fitzweller Administrator
4/21/2010 6:43 AM  Fitzpatrick & Weller and W.J. Cox Associates Inc. jointly hosted the monthly meeting of the Penn-York Lumbermen's Club recently. The evening gathering was held at the Yodeler Lodge in Ellicottville, NY.
Members and guest networked socially, sharing personal insight about current market conditions and were addressed by West Long, owner of Long Consulting Group, who spoke on the Marcellus Shale. The next Penn-York meeting is scheduled for April 26th and will be hosted by Meridien Hardwoods of PA, Inc.
The Marcellus Shale, is a black shale of Middle Devonian age that underlies much of Pennsylvania, New York, Ohio, West Virginia and adjacent states. Geologists have long known that the Marcellus contains natural gas, however, the depth of the rock unit and its low permeability made the Marcellus an unconventional exploration target.
Within the past few years two technologies, hydrofracing and horizontal drilling, have been tested in the Marcellus resulting in some of the most productive wells in the eastern United States. These developments triggered an explosion of drilling and leasing activity in the areas above this rock unit.
The potential of the Marcellus is significant. It is thought to contain about 50 trillion cubic feet of natural gas - enough to supply the entire United States for two years with a wellhead value of one trillion dollars. The Marcellus is also the closest natural gas to the high demand markets of New York, New Jersey and New England.
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