Guide Note:

The Marcellus Shale is a rock formation estimated at 365 million years old. It is composed of porous shale that is rich in natural gas. U.S. Geological Survey researchers have estimated that the formation may hold up to 3.7 trillion cubic feet of recoverable gas. Other research conducted by Pennsylvania State University claims that the deposits may be more in the range of 50 trillion cubic feet. It is believed to be the biggest deposit of natural gas in the Appalachian Basin. The natural gas deposits in the Marcellus Shale formation are more than a mile deep in the earth. Only recently has technology become available that will be able to extract the ore and the gas it contains from such depths. As a result, many companies are now vying for the drilling rights across the location of the shale formation. The formation covers an area from New York State to Ohio and West Virginia - a total of approx. 54,000 square miles. By tapping into such a huge reserve of natural gas, scientists are hopeful that the formation will alleviate some of the pressure currently on the market. Natural gas prices on the consumer end have doubled over the last few years.