Pennsylvania and Ohio have recently been hit with a wave of leasing frenzy caused by the
Utica shale. The natural gas drilling activity has caused lease rates to be raised from several dollars per acre to several thousand dollars per acre. This new upsurge has created a number of questions and concerns for landowners.
The competitive environment of Natural Gas leasing requires current knowledge of the regions well production to better assess the landowners Oil & Gas value. Leasing is a serious market. A gas lease requires significant understanding of the market and direct involvement as the values being offered to acquire a lease will constantly change. Our process has been proven in some areas to double current values and in one situation it sextupled the previous offer from $500 per acre to $3000 per acre.
To find out the next step in achieving an Oil & Gas Lease offer, please contact Northeast at 724-359-5035 and one of our representatives will be more than glad to guide you through our simple Oil & Gas Lease Landgroup process.
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What They Donít Want You to Know
The Marcellus Shale Formation and Utica Shale Formation is the second largest Natural Gas deposit in the world. Only second behind the formation located in Iran. Together they just may be the largest, only time will tell.
Whatís all the Talk About
The Marcellus Shale, also referred to as the Marcellus Formation, is a Middle Devonian-age black, low density, carbonaceous (organic rich) shale that occurs in the subsurface beneath much of Ohio, West Virginia, Pennsylvania and New York. Small areas of Maryland, Kentucky, Tennessee, and Virginia are also underlain by the Marcellus Shale. The Marcellus Formation contains large natural gas reserves which makes it an attractive target for energy development.
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The Utica Shale is a rock unit located a few thousand feet below the Marcellus Shale. It also has the potential to become an enormous natural gas resource. The Utica Shale is thicker than the Marcellus, it is more geographically extensive and it has already proven its ability to support commercial production for natural gas exploration. The potential source rock portion of the Utica Shale is extensive. In the United States it underlies portions of Kentucky, Maryland, New York, Ohio, Pennsylvania, Tennessee, West Virginia and Virginia. It is also present beneath parts of Lake Ontario, Lake Erie and part of Ontario, Canada. This geographic extent of potential Utica Shale source rock is shown on the map linked below. If the Utica is commercial throughout this extent it will be geographically larger than any natural gas field known today.
See the map