It’s been said that information is the key to success, and this week’s show was all about Marcellus Shale information — why it’s important, what you can do with it, and where you can get it.
As always, Gas Business Briefing’s Rick Stouffer joined us to provide a recap of the week’s top natural gas news. Of note this week was news that BP (British Petroleum) spent $331.5 million to lease 84,000 acres in Trumbull County, Ohio for future Utica Shale development.
Following Rick’s recap, Paul Gitnik, president and founder of MarcellusUSA.com, UticaUSA.com and ShaleGasUSA.com, joined the show to talk about his web sites and the information available to individuals and businesspeople who are interested in Marcellus and Utica Shale information.
Gitnik spoke about the process his team used to build the web sites, where users can go to search publicly-available information regarding specific leases in the Marcellus and Utica shales.
“We went to the recorder’s office and pulled the memorandum of lease and the leases and we pulled 55 critical data points and put them on our site so that they are searchable,” he said.
Gitnik also talked about how the information can be beneficial to both individual users and companies such as financial planners, accountants or attorneys.
“Oil and gas producers already have this information at their fingertips,” Gitnik said. “This site allows you to see what people are getting so that you can get the best terms and conditions [for your lease] in the marketplace.”
Gitnik added, “In our database, for Pennsylvania counties we have over 100,000 leases, and we are still adding counties as we speak.”
As always, we took calls from our listeners with questions about Gitnik’s websites, about the social impact of the gas drilling boom in Western PA, and a legal question about payment during the consideration phase.
Want to hear more? Check back in a few days for our complete transcript and podcast.