Pennsylvania not fully capitalizing on its Marcellus shale
Pennsylvania is realizing only a fraction of its economic potential as an energy producer against a backdrop of oversupply and continuing low prices, Chevron Appalachia President Stacey Olson told the Shale Insight 2017 Conference Wednesday.
Olson was one of three "mini keynote" speakers to address the opening of the large annual conference for leaders in the oil and gas industry in Ohio, Pennsylvania and West Virginia — the three states of the Marcellus and Utica shale plays.
While Pennsylvania is the second-largest producer of natural gas in the United States, after Texas, Marcellus gas is being sold at a significant discount to other markets, resulting in little or no return for energy producers, Olson said.
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