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Chief began drilling in the Marcellus Formation in 2007. [5] In August 2008, the company sold assets to Quicksilver Resources. [6] In September 2009, the company entered into a joint venture with Enerplus for development in the Marcellus. By that time, the company had drilled 31 wells in the formation. [5]
The company has operations in the Permian Basin, Marcellus Shale, and the Anadarko Basin. [1] As of December 31, 2021, the company had 2,892 million barrels of oil equivalent (1.769 × 10 10 GJ) of estimated proved reserves, of which 85% was natural gas, 7% was petroleum, and 8% was natural gas liquids. [1]
The Marcellus natural gas trend is a large geographic area of prolific shale gas extraction from the Marcellus Shale or Marcellus Formation, of Devonian age, in the eastern United States. [2] The shale play encompasses 104,000 square miles and stretches across Pennsylvania and West Virginia, and into eastern Ohio and western New York. [ 3 ]
The Marcellus shale, a vast hydrocarbon-bearing formation that spans several states in the Northeast, is widely regarded as the most economical shale gas play in the country. According to Bentek ...
To help Foolish investors better understand the oil and gas boom in the United States, we are putting together a series of articles focusing on the major energy plays in the lower 48. We'll need ...
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In 2007, CNX Gas also began investing heavily in natural gas exploration in the Marcellus Shale in Pennsylvania. In 2010, Consol acquired Dominion Resources Inc. 's natural gas production and exploration assets for 3.74 billion dollars, which included nearly 500,000 acres of Marcellus potential, tripling Consol's position in the Marcellus to ...
In recent years, U.S. natural gas output has seen a phenomenal surge thanks largely to the application of advanced drilling techniques such as hydraulic fracturing and horizontal drilling. From ...