Monday, August 23, 2010

McKean County, PA: Marcellus shale update

By Andrea:

SM Energy Company (SM) announced today that they plan to raise $300-$500 Million through either the sale of or a joint venture of their 43,000 acres in the Marcellus shale located in McKean County and Potter County, Pennsylvania. SM Energy also announced today that its second Marcellus well in McKean County, the Potato Creek 3H, began producing to sales in early August at a facility constrained initial gas production rate of over 7 MMCFE/D. They plan to execute the sale and/or joint venture over the next 12 months.

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