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Ultra Resources gears up in Tioga, Potter counties
by Sharon Corderman
- Westfield Free Press-Courier
The Marshlands Play is a major natural gas project operated by Ultra Resources that straddles the Potter/Tioga county line near Gaines. Ultra already has three vertical wells into the Marcellus shale in the Marshlands area and anticipates drilling eight horizontal Marcellus wells there before the end of the year, according to a transcript of the company’s May 6 earnings call posted on www.SeekingAlpha.com. Ultra also is a joint venture partner with East Resources in some Marcellus shale play in Tioga and Potter counties.
Marcellus wells can require millions of gallons of water injected under high pressure to fracture the shale and release the gas. The Susquehanna River Basin Commission, which regulates the consumptive use of water in the Marshlands area, has granted Ultra permits for surface water withdrawal from Pine Creek in Potter County’s Pike Township and Elk Run in Tioga County’s Gaines Township. An application has been made for a state permit to construct a water pipeline from the Pine Creek withdrawal location just east of Galeton to various gas well sites.
Marcellus Shale development will pump $14.17 billion into the state’s economy in 2010 and create more than 98,000 jobs, while generating $800 million in state and local tax revenues, according to an economic study released this week by the Pennsylvania State University for the Marcellus Shale Committee and the Pennsylvania House Natural Gas Caucus.
The study notes a consistent increase in annual drilling and projects a $25 billion contribution to the state’s economy over the next 10 years. This level of activity would generate almost $1.4 billion in state and local tax revenue and create more than 176,000 new jobs.
Marcellus wells can require millions of gallons of water injected under high pressure to fracture the shale and release the gas. The Susquehanna River Basin Commission, which regulates the consumptive use of water in the Marshlands area, has granted Ultra permits for surface water withdrawal from Pine Creek in Potter County’s Pike Township and Elk Run in Tioga County’s Gaines Township. An application has been made for a state permit to construct a water pipeline from the Pine Creek withdrawal location just east of Galeton to various gas well sites.
Marcellus Shale development will pump $14.17 billion into the state’s economy in 2010 and create more than 98,000 jobs, while generating $800 million in state and local tax revenues, according to an economic study released this week by the Pennsylvania State University for the Marcellus Shale Committee and the Pennsylvania House Natural Gas Caucus.
The study notes a consistent increase in annual drilling and projects a $25 billion contribution to the state’s economy over the next 10 years. This level of activity would generate almost $1.4 billion in state and local tax revenue and create more than 176,000 new jobs.
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