AUSTIN, TX--(Marketwired - Apr 10, 2013) - According to the U.S. Energy Information Administration's latest shale gas statistics, proved shale gas reserves in Pennsylvania rose significantly from 2008 through 2010, the latest year for which the data is available. During this time, proven shale gas reserves in the state rose from 88 billion cubic feet (Bcf) to 10.7 trillion cubic feet, primarily from exploration of the Marcellus Shale. Pennsylvania's natural gas production rate also has increased exponentially during this time, rising from less than 1 billion cubic feet per day (Bcf/d) in 2008 to more than 6 Bcf/d in 2012.
One of the faster growing areas for natural gas production in Pennsylvania is Lycoming County, specifically the western side that neighbors Clinton County. The county is representative of the state's growth in natural gas production. According to Pennsylvania's Department of Oil & Gas Management, in 2008 three wells were drilled in the county, bringing total production to only 83,500 million cubic feet (less than one-tenth of 1 Bcf). In 2012, 165 wells were drilled, and the county's total production was 229.7 Bcf, representing more than 10% of the state's total production of 2.24 trillion cubic feet of natural gas during the year.
While this area has been heavily developed by natural gas production companies, other undeveloped areas show analogous characteristics to western Lycoming County. Lancer Resources LP (Austin, Texas) has assembled 21,000 acres within a 75-square-mile focus area within a new, underexplored area of the prolific Marcellus Shale, analogous to western Lycoming County. This provides an opportunity for those who missed the initial wave of acquiring leaseholds and drilling in the Marcellus.
The area has prospect rock characteristics that are analogous to western Lycoming County and a verified potential of 20 million cubic feet per day, with expected ultimate recovery of 10 Bcf per well. This high-potential, low-risk investment has been substantiated by recent, independent proprietary rock and petrophysical studies conducted across the prospect area by well-respected reservoir-analysis companies NuTech Energy Alliance and Core Laboratories (NYSE: CLB).
With natural gas prices on the rise again, this ready-to-drill area offers the economic equivalent of an 850-barrel-per-day oil or liquids well in the Utica or Eagle Ford shales, but at a fraction of the cost, providing the opportunity to explore and establish a significant new natural gas field in the Pennsylvania Marcellus Shale with minimal risk.
For more information, visit Lancer's website at www.lancerresources.com or call (512) 751-7595.
Lancer Resources has been owned and operated by Rod C. Roberts for the past 29 years. The company specializes in assembling prospects for oil and gas exploration. During that time, the company has discovered in excess of 150 BCF of natural gas reserves. Lancer Resources is currently assembling natural gas prospects in the Marcellus Shale Play in Pennsylvania and the Haynesville Shale Play in East Texas together with Eagle Ford, Austin Chalk, Cotton Valley Sands, and Cotton Valley Lime Pinnacle Reef prospects in Robertson County, Texas.
Rod C. RobertsEmail Contact(512) 481-7595
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