Monday, February 13, 2012

National Fuel slows marcellus drilling

National Fuel Gas Co. is pulling back on its headlong push to drill for natural gas in Pennsylvania’s Marcellus Shale. Company officials say lower gas prices are the primary reason for the pull-back. National Fuel’s unique position with Pennsylvania’s Marcellus also works to its advantage. Many natural gas drillers rely on leased property that requires them to drill there within a set time frame. National Fuel, on the other hand, already controls much of its 740,000 acres in the Marcellus Shale, so it isn’t under the gun to keep drilling as much as some of its competitors are. 

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