Family Life

12.26.12 | Sarah Harnisch

Even if gas drilling is approved in New York State in 2013, there likely won’t be a gas rush this year. After more than four years of environmental review, marked by escalating battles between the industry and anti-drilling protestors, New York appears less likely to complete their regulations by the end of February. Nancy Scmitt, President of a New York Hedge Fund, says her sense of it is that even if drilling is approved, she doesn’t see a big land grab. She says New York has a smaller resource than Pennsylvania, it’s unproven, and there is political risk. She speculates gas companies will be cautious. The state is expected to have completed its environmental review by mid February and finalize regulations by the end of February.

Meanwhile, this year was one of the new records for the boom in Marcellus shale natural gas drilling. The Marcellus became the productive natural gas field in the nation, even though well drilling slowed substantially. According to the federal energy reports, Marcellus well sin Pennsylvania and West Virginia now produce seven billion cubic feet of gas per day. That’s about 25 percent of all shale gas production nationwide and nearly double the Marcellus production of the previous year.