“It just takes money,” Marty prodded.
“We’ll find the money.”
Chesapeake Energy always seemed to be able to find the money.
In the early years, that helped the company become the largest natural gas producer in the U.S. Later, it got Aubrey and Chesapeake Energy in a lot of trouble. But make no mistake, Aubrey knew a huge opportunity when he saw it... The Marcellus Shale – the resource my friend Marty showed him more than 12 years ago – is the one that led to Pittsburgh becoming a boom town in the mid-2000s.
Today, we know the Marcellus Shale is a massive resource play.
The EIA estimates that 141 trillion cubic feet of recoverable natural gas is contained within its rocks... The formation stretches through parts of nine states, including large areas in New York, Pennsylvania, Ohio, and West Virginia. It even crosses below Lake Erie and into portions of southern Ontario in Canada.
But back then, the potential upside in the region was mostly a mystery.
In this chapter, I’ll show you how cutting-edge technology was critical to exploiting this huge energy resource in the Northeast... and how technology will drive the next supercycle in oil. How We Helped Discover the Largest Gas Field in America In 2005, I took the job with EOG because the company had excelled with directional drilling and hydraulic fracturing – “fracking” – in central Texas’ Barnett Shale. I wanted to be a part of a team that was using advancements like these to transform the oil and gas industry. In the first quarter of 2005, we began to analyze the Marcellus Shale...
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