Marcellus Shale Keeps Turning Headshttp://www.fool.com/investing/general/2010/09/23/marcellus-shale-keeps-turning-heads.aspx Toby Shute
September 23, 2010
The Marcellus shale first crossed my radar in late 2007, at which time I dubbed it the next great gas play. Before too long, major media outlets began hitting on the massive potential here, and the Marcellus has been hogging energy headlines ever since. Here's a roundup of a few of the most recent highlights.
Flashy gas flows
You know how I feel about 24-hour initial production rates. There is no standardization, and the results of a single well can easily be overhyped. Seneca's rates aren't so high as to be suspect, but the release of these results in tandem with the announcement that Seneca has hired an investment bank to shop around a joint venture interest in a broad swath of its Marcellus acreage still smacks of showmanship. It reminds me a bit of an operator that cashed in on the Haynesville hoopla late last year following a big well test by partner Devon Energy.
Another Asian buyer