/24-7PressRelease/ - GLASGOW, KY, July 17, 2008 - Jacobs Energy has strategically positioned itself to develop large acreage positions throughout the Marcellus Shale in its Appalachian Basin Shale Development Project. Jacobs Energy has been in a series of major negotiations to aggressively develop any and all Marcellus Shale available. Their "non-corporate grass- roots approach" has compelled respected and well-known local landowners to not only provide leases, but to also assist in securing additional acreage to achieve the goal of producing energy from this play. Jacobs Energy is proud to announce that their land and acquisition team is growing rapidly throughout the Appalachian Basin and specifically over the Marcellus Shale formation. They are continuously evaluating acquisitions and developments in the northeastern part of the basin and have secured bank and other institutional relationships that will undoubtedly be an asset to their efforts.
Jeremy Jacobs, CEO of Jacobs Energy, says "For years, we've known that Appalachian Shale gas is the most productive shale play. Now our industry is realizing that, more specifically, the Marcellus Shale in the Appalachian Basin may be the largest shale play and has the potential to be more productive than any other." Jacobs Energy has recognized the Marcellus as being arguably the most valuable piece to the energy puzzle and potentially the key to America's energy independence through the increased production of this unconventional source for natural gas.
It has been a well known fact that Appalachian Shale Gas is the most productive, predictable and one of the lowest risk shale plays in the United States, thanks to the implementation of modern technology. An example of this would be the increasingly developed Devonian Shale. According to all reputable sources, including the United States Geological Survey (USGS) this shale will produce for 30-100 years nearly 100% of the time when stimulated using innovative fracture techniques. The most well known shale play is the Barnett Shale in Texas, however, the sheer volume of Shale in the Appalachian Basin easily dwarfs the Barnett. Since it is not only potentially the largest by square miles, but also because it may be more productive than any other known shale play, the energy industry is now coming to the realization that the Marcellus Shale in Appalachia could possibly become a more sought after shale development, possibly even more than even the Barnett. This knowledge has leaked out of the industry and has recently been a hot topic on Jim Cramer's 'Mad Money' where he explains how companies like Chesapeake, XTO, Range Resources, and others will be profiting from the Marcellus Shale play through increased production and increasing prices of natural gas.
Jeremy Jacobs is a sought after expert and advisor in the development of unconventional natural gas and serves on the Petroleum Technology Transfer Council's (PTTC) Producers Advisory Group (PAG). The PTTC was established in 1994 by producers, state organizations and the Department Of Energy. Jeremy Jacobs says; "Technology has touched every industry known to our modern world and the energy industry is no exception. We've watched as companies such as ourselves, Chesapeake, XTO, Cabot, NGas, etc. have grown through the evolution of technology".
Tight gas was once looked at as uneconomical for operators to retrieve. Because of the continual increase in demand, decreasing supplies and the apparent realization of peak energy coupled with global expansion and foreign policies there has been an exponential increase in energy prices and the need for more environmentally friendly energy supplies for our world. The reality of utilizing human and financial resources for the common goal of developing new techniques and technologies to produce these formations has now become more feasible. New technologies and the evolution of old technologies have made this type of exploration possible.
It has been a common belief that we must fully convert to renewable, clean energy in order to sustain affordable and long term alternative energy supply. Obtaining energy independence in this country and becoming environmentally friendly - as unfortunate as it may be - will not happen overnight. As for now, there is no one alternative energy source that is capable of sustaining our energy-hungry nation. As such, Jeremy Jacobs believes that a balance between cleaner conventional energy (natural gas, for instance) and alternative energy must occur. He says, "This isn't an either/ or situation, it's a both and symbiotic situation." The need for a balance between renewable and conventional resources, coupled with advancements in technologies to develop tight gas formations has enticed Jacobs Energy to pursue a development model that has historically included Appalachian Shale Gas. In regards to clean energy, natural gas is the cleanest form of conventional energy our country has.
To learn more about how Jacobs Energy plans to develop the Marcellus Shale in the Appalachian Basin to help fuel the future through clean natural gas, please visit their website at http://www.jacobsenergy.com.
About Jacobs Energy
Jacobs Energy is a fully integrated energy company in the Appalachian Basin. They are involved in the production of domestic crude oil and clean natural gas, as well as the development or improvement of energy related technologies and alternative energy sources. For more information, please visit them on the web at http://www.jacobsenergy.com.
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