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The Devonian-aged Marcellus Shale runs about 600 miles across Pennsylvania.
 In 2008, Southwestern invested $58 million in the Marcellus Shale. In the first quarter of 2009, the company purchased approximately 21,715 net acres in Lycoming County, Pennsylvania, for approximately $8.2 million. At December 31, 2009, Southwestern had approximately 149,000 net acres in Pennsylvania under which it believes the Marcellus Shale is prospective. During 2009, Southwestern invested approximately $40 million in Pennsylvania, almost all of which was for acquisition of acreage.
In 2010, the company plans to invest approximately $145 million in Appalachia, which includes drilling with one operated rig in the Marcellus Shale play in Pennsylvania and participating in a total of 35 to 40 wells, 21 to 24 of which will be operated.
Last Updated on 03/01/2010 |
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Acreage:
149,317 net acres (12/31/09)
Geologic profile:
A Devonian-age black shale approximately 600 miles in length
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