From the Oil City Derrick:
Pa. to remain center of gas drilling, experts say
PITTSBURGH (AP) – Like a runner who’s gotten a big head start in a race, experts say Pennsylvania may be set to dominate natural gas production in the Marcellus Shale region for many years.
The state is a cost-effective place to do business because it already has billions of dollars invested in leases, wells and related infrastructure. And a plunge in wholesale prices has made being thrifty a must for some companies. That deals a potential blow to would-be upstart New York.
Oil and gas analyst Fadel Gheit says he expects Pennsylvania to be the center of activity for the next few years, if not longer.
He says there’s less risk sticking with a state and with regulations they know. He says New York is generally seen as a more liberal state than Pennsylvania and thus more prone to imposing stricter rules on drilling.