US gas players see bright future for the Marcellus
A drilling site in the Marcellus shale play, Pennsylvania. Producers are upbeat about its prospects. (Helge Hansen/Statoil)
Two years of low oil and gas prices have not prevented the Marcellus shale play from holding the title of the most competitive and productive gas reserve in the United States. Despite dips in production since 2014, the Marcellus – which stretches from the state of New York through Pennsylvania to West Virginia and Ohio – represents 18% of total US gas production, and shale producers are optimistic about its future.
Houston-based independent gas producer Cabot Oil & Gas, the second-largest producer in Pennsylvania in 2015, is upbeat about investment longevity in the Marcellus. Cabot Investor Relations Director George Stark emphasised to Interfax Natural Gas Daily that the company would be looking at Marcellus production for the next 100 years.