According to a recent Associated Press article found on Newsok.com, two independent financial firm reports say that the Marcellus and Utica shale plays aren’t just the biggest natural gas fields in the country, they’re the cheapest place for companies to drill.

One report adds that the Marcellus is actually a larger field than recent government estimates.

Read it:

“The Marcellus could contain “almost half of the current proven natural gas reserves in the U.S,” a report from Standard & Poor’s issued this week said.
Another recent report from ITG Investment Research, a worldwide financial firm based in New York, found that a detailed analysis of Marcellus well production data suggested that federal government estimates of its reserves “are grossly understated.””

The amount of natural gas available at a relatively low cost increases the likelihood that natural gas will be used for more energy needs like powering city buses and electrical generators.

Pipelines and gas production go hand-in-hand.

Ohioans should expect to see pipeline construction soon.

Though all of this is good news for the pocket books of residents and gas companies, environmentalists and some academics still remain weary of the Marcellus and Utica shale drilling:

““Sounds hopeful for the local economy, but the energy business has always been boom-and-bust, so long-term predictions are pretty risky,” Carnegie Mellon University professor Jay Apt wrote in an email.”

To read more follow the links below.

» Via: The Oklahoman › Reports: Marcellus reserves larger than expected