Marcellus Shale - COG - Chief Oil and Gas Operational Update 9/26/08

Chief Oil & Gas ( COG ) unveiled a new drilling rig in the Marcellus Shale this week.

From the Dallas Business Journal

Chief Oil & Gas has unveiled the new AC QuickSilver drilling system, which was developed by IDM Group and is operated by Union Drilling Inc. to drill in the rugged terrain of the Marcellus Shale.

The Marcellus Shale, a natural gas deposit that covers about 54,000 square miles through parts of New York, Pennsylvania, Ohio and West Virginia, is known for having untapped natural gas reserves located in rugged terrain that has traditionally been difficult for companies to drill through in a timely fashion.

The AC QuickSilver drilling system, which Dallas-based Chief Oil & Gas has a three-year contract for, is defined by its ability to “rig down, then rig up on a new location within 100 miles, in less than 48 hours,” Chief Oil & Gas said Thursday.

http://www.bizjournals.com/dallas/stories/2008/09/22/daily51.html