WHEELING, W.Va. — A Norwegian company partnering with Chesapeake Energy says it could drill as many as 17,000 natural gas wells in the Marcellus shale field over the next 20 years.
Statoil ASA made the prediction on its website. The Oslo-based company holds a 32.5 percent interest in Chesapeake’s holdings in West Virginia’s Northern Panhandle.
The Intelligencer reports their agreement covers a total 1.8 million acres and more than 32,000 leases in West Virginia, Pennsylvania, New York and Ohio.
Statoil also has a deal with MarkWest Liberty to process liquids at its Marshall County complex. MarkWest transports ethane, propane, butane and pentanes by pipeline to a Pennsylvania storage site.
President Frank Semple says MarkWest is close to completing a second plant.