The Marcellus Shale natural gas play represents the single biggest energy resource in Pennsylvania since the Drake oil well was drilled in 1859. With application of modern extraction technologies, natural gas locked in the Marcellus Shale can now be tapped and brought to market, making the Commonwealth of Pennsylvania a beehive of activity from Scranton in the Northeast corner to Waynesburg near the West Virginia border.
The responsible development of the Marcellus is expected to dramatically increase industrial activity, employment opportunities, tax revenues, and new business growth in Pennsylvania in the coming years. A July 2011 Penn State University Study, commissioned by the Marcellus Shale Coalition, estimated that in 2012 alone, Marcellus producers will:
- Generate more than $14.5 billion in economic value added or regional gross domestic product
- Generate $2.6 billion in additional state and local tax revenues
- Create 180,000 jobs
- Produce up to 6 billion cubic feet of natural gas per day
The study also indicated that Pennsylvania is now self-sufficient in supplying itself with natural gas and in future years will likely become a major supplier of natural gas and liquids to consumers in other states. Marcellus gas production could expand to over 17 billion cubic feet per day by 2020, which would make the Marcellus the single largest producing gas field in the United States.
Demand for support services to the oil and gas development companies promises to be a boon to the Delaware Valley’s many diverse businesses. The Delaware Valley Marcellus Shale Association serves as a new business conduit between the gas development companies and the Philadelphia region’s rich trove of potential business partners. The Association will connect gas development companies active in the Marcellus with manufacturing companies, transportation and logistics companies, trade unions, marketing firms, banks and financial institutions, environmental consultants, and others here in Southeastern Pennsylvania, and foster a spirit of mutual collaboration that we believe will lead to business opportunities and added value for all.