2012-10-24 / Local & State

Marcellus Reserves Larger Than Expected

By Kevin Begos

ASSOCIATED PRESS

PITTSBURGH (AP) – There's been plenty of debate over the Marcellus Shale natural gas field, but new research adds a twist that could impact political and environmental battles. Two independent financial firms say the Marcellus isn't just the biggest natural gas field in the U.S. – it's the cheapest place for energy companies to drill.

A report from Standard & Poor’s issued this week finds that the powerful combination of Marcellus resources and the location near major markets in the Northeast is altering natural gas prices and market trends across the nation. Another report from ITG Investment Research says Marcellus reserves are far larger than recent government estimates.

George Jugovic Jr., the president of the environmental group PennFuture, says the reports show how important it is to get gas drilling regulations “in order.”

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