We already know where we are in terms of the oil and gas industry today: Data shows that drilling activity has steadied, officials have said that most businesses have already set up shop, but are still hiring. But just what does the future hold for the Marcellus shale industry in the region?
Two major oil- and gas-related projects are on the horizon: The first, Consol Energy’s deal with the Allegheny County Airport Authority to drill for oil and gas on 9,200 acres at Pittsburgh International Airport, is already in progress. The second, Shell Oil Co.’s proposed $2.5 billion petrochemical plant in Potter Township, isn’t yet a reality, as the oil giant recently signed its third land option extension with Horsehead Corp., the closing zinc smelter on the site.
But the drilling deal at the airport is moving along as scheduled, officials have said. Signed in February 2013, the two-year contract is Allegheny County’s largest wet gas deal, and their first deal signed in 2013. Plans for the project include six well pads, three water impoundments, 47 Marcellus shale wells, 17 miles of gas lines and 12 miles of water lines. Construction is expected to begin in the spring, drilling in July.
Read more: http://www.timesonline.com/special_sections/progress_edition/what-lies-ahead-the-future-of-the-region-s-oil/article_9082b723-efbf-541d-a905-670799639025.html