Shell’s Big Move in PA

Royal Dutch Shell is set to acquire more drilling rights in northern Pennsylvania later this year – 155,000 acres in Potter and Tioga counties. Last week, the company decided to leave its Pinedale and Haynesville onshore gas assets in exchange for about $2.1 billion, plus additional acreage in the Marcellus and Utica shale areas in Pennsylvania. The company has focused on Marcellus gas in northeastern and Central Pennsylvania as part of a joint venture with Houston-based Ultra Petroleum Corp., according to a story in the Pittsburgh Post-Gazette. Royal Dutch Shell’s subsidiary SWEPI LP also controls about 900,000 acres in Pennsylvania, according to that news report. “The deep-pocketed Shell became the first operator to make a serious attempt to harvest gas from another shale layer, the Utica, found even deeper. Discovery of a gusher, yielding eye-opening gas flows, in Tioga County has been the talk of the industry,” according to Potter County Today. In one agreement with Ultra
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