Susquehanna County, PA - Marcellus Shale

By Tim - http://oilshalegas.com

Talisman Energy (TLM) recently reported an operational update on the Marcellus Shale in Susquehanna County, PA. Talisman Energy (TLM) plans to spend $250 million on building out infrastructure as they move east towards Susquehanna County. However, due to low natural gas prices in the U.S, Talisman will reducing their drilling activity.

In the Marcellus, we'll reduce activity substantially in the light of current gas prices. We exited the year with 11 rigs, but will plan to reduce to an average of 7 rigs for this year and are actively considering reducing further to 5 rigs in the play. Even with 5 rigs operating, we expect to be able to hold production around 500 million cubic feet a day. Capital will be between $600 million and $800 million in total, with up to $250 million spent on building out infrastructure as we move east towards Susquehanna County.We produced over 400 million cubic feet a day in the Marcellus last year and about 485 million cubic feet a day in the fourth quarter and secured some of the highest margins in that region

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Susquehanna County, PA: Marcellus Shale Update

By Andrea: http://oilshalegas.com

Williams Partners L.P. (WPZ) announced that it has completed the acquisition of Cabot Oil & Gas Corporation's (COG) midstream assets in the Marcellus Shale located Susquehanna County, Pa., for $150 million.

The assets include approximately 75 miles of gathering pipelines and two compressor stations that are currently gathering approximately 230-240 million cubic feet per day (MMcf/d) of Cabot's natural gas production.

The partnership has also agreed to a new long-term dedicated gathering agreement with Cabot for its production in the northeast Pennsylvania area of the Marcellus Shale. The 25-year agreement covers an area of mutual interest that currently includes approximately 138,000 net acres.

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Susquehanna County, PA - Marcellus Shale Update

By Andrea: http://oilshalegas.com

In the Marcellus Shale, the Carrizo Oil and Gas Inc. (CRZO) has contracted a Nabors Drilling rig to initiate development drilling in northern Pennsylvania. The rig is expected to commence drilling on a multi-well pad located in Forest Lake Township, Susquehanna County, PA in late October 2010.

For more shale updates, visit: http://blackberrystocks.blogspot.com

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Susquehanna County, PA: Marcellus Shale

By Andrea: http://oilshalegas.com

Chesapeake Energy Corp. (CHK) released an update on the Marcellus Shale early last week. Chesapeake completed the 3 following wells in the Marcellus Shale:

-The Mowry 1H in Bradford County, PA achieved a peak 24-hour rate of 9.9 million cubic feet of natural gas (mmcf) per day;

-The Przybyszewski 4H in Susquehanna County, PA achieved a peak 24-hour rate of 9.7 mmcf per day; and

-The White 2H in Susquehanna County, PA achieved a peak 24-hour rate of 9.0 mmcf per day.

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