Nothing drives home more powerfully why the Marcellus, in particular, is a massive bounty of gas than recent production data crunched by the good folks at MarcellusGas.Org (www.marcellusgas.org).
A 7-well pad in Morris Township, Greene County, that includes the top producing well in Pennsylvania, has produced 23 billion cubic feet of gas. Of that total, the top producing single well in the Commonwealth has provided 6 billion cubic feet. A true gusher!
Since the annual, average residential gas consumption in Philadelphia is about 87,000 cubic feet, this prolific well pad has supplied enough gas for 264,000 residential gas accounts in Philadelphia for a full year. That's more than half of the homes using gas in Philadelphia and is just amazing!
Even using a low at the well head price of $1.94, MarcellusGas.Org calculates that Pennsylvania's top single well has so far printed $1.5 million in royalties and $12 million worth of natural gas. Yes, shale production has made millionaires of some landowners.
Moreover, the Greene County well is not a one-in-a million fluke. In fact, MarcellusGas.Org states that another well, completely across the state in Dimock Township Susquehanna County, nearly matched the Greene County well by producing also more than 6 billion cubic feet. That well is one of three at its well pad (King wells) that cumulatively supplied to date 12 billion cubic feet, about $3 million in royalty payments, and still another shale gas millionaire.
For gas consumers, all this gas has brought rock bottom natural gas prices, with consumer and economic benefits of approximately $1 billion per day. The jaw-dropping facts just keep rolling out of the shale gas revolution and especially the Marcellus.