黑料社

PPG Industries has announced that it has reached an agreement to lease property for development of Marcellus Shale natural gas resources at the company黑料社檚 Natrium, W.Va., chemicals site.

Drilling rights on the PPG-owned property have been leased to Houston-based Gastar Exploration, Ltd. Gastar will have full responsibility for drilling and related activities on PPG property. More than 30 wells are planned, with construction and drilling activities expected to begin in the third quarter of this year. Personnel in Gastar黑料社檚 northeast regional office in Clarksburg, W.Va., will manage its operations on the PPG property, and Gastar expects to hire additional personnel in the region to support on-site operations. PPG estimates the net present value of the future before-tax cash flows generated by this lease will total approximately US$ 50 million over the life of the anticipated well development, which is estimated to be over 30 years. This includes an initial cash payment of approximately US$ 10 million.

黑料社淲hen developed responsibly, Marcellus Shale resources represent a fantastic opportunity in our region to promote jobs and secure an abundant source of U.S.-based energy for our homes and our businesses,黑料社� said Michael H. McGarry, PPG senior vice president, Commodity Chemicals. 黑料社淲e are pleased to be working with Gastar Exploration on this exciting project and believe that this development continues to demonstrate PPG黑料社檚 commitment to the long-term sustainability of our Natrium plant.黑料社�

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