Marcellus shale producers remain positive, despite today's low prices for natural gas, said speakers at an energy conference this week in New Orleans.
Pittsburgh-based EQT said it intends to stop drilling in West Virginia and Kentucky's Huron shale and to slightly scale back in the Marcellus shale of Pennsylvania.
The firm still intends to drill 132 Marcellus shale wells this year, focusing on Greene County in southwest Pennsylvania and Tioga County in the northeast for dry gas and Doddridge and Wetzel counties in West Virginia for gas and liquids.
Range Resources said it intends to spend 85 percent of its $1.6 billion capital budget for 2012 in the Marcellus, mostly in the wet gas area of southwestern Pennsylvania.
But 23 percent of those funds will spent in the dry gas area of northeast Pennsylvania, company officials said at the conference.
Consol Energy reported it intends to drill 99 wells in the Marcellus shale and 22 wells in the Utica shale this year, officials said,
In a related development,it appears that the yield from the Marcellus shale is likely close to some of the early optimistic projections, the Pittsburgh Tribune-Review reports.
That based on new analysis by the private sector and university researchers who have been butting heads with federal officials over the potential yield of the Marcellus shale.
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