For a number of these companies seeking to cash in, the big payoff never came. Plummeting natural gas prices made acquiring acreage in a largely dry gas play much less appealing. Speculators caught up in the initial rush to the Marcellus found themselves saddled with overpriced leaseholdings that were not generating income.
In the view of one long-time observer of U.S. oil and gas industry trends, the "bubble" that characterized much of the activity in the Marcellus in recent years has not burst per se. Rather, Raymond Schmaus maintains the bubble has morphed into a more stable and predictable environment that favors the long-term investor. The president of the Pittsburgh-based oil and gas title abstract firm Armstrong Search Associates, Inc. welcomes this change, which he said favors operating companies looking to maintain a lasting presence in the Marcellus and the overlapping, liquids-rich Utica shale formations.Transferable to the Bakken? It just keeps getting more and more interesting. Go to the link for an interesting read --