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CNBC Europe (referred to on air simply as CNBC) is a business and financial news television channel which airs across Europe, the Middle East and Africa.

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Image by: Robert Milici and Christopher Swezey, 2006, Assessment of Appalachian Basin Oil and Gas Resources: Devonian Shale–Middle and Upper Paleozoic Total Petroleum System. That volume of natural gas would be enough to supply the entire United States for about two years and have a wellhead value of about one trillion dollars![5] In 2011 the Energy Information Administration reported that the Marcellus Shale contained approximately 410 trillion cubic feet of technically recoverable natural gas, but the following year the agency revised that number downwards to 141 trillion cubic feet.Its black color made it easy to spot in the field, and its slightly radioactive signature made it a very easy pick on a geophysical well log.However, very few of these geologists were excited about the Marcellus Shale as a major source of natural gas.The Marcellus-Millboro interval is far from a uniform slab of black rock.

Although the 141 trillion cubic feet estimate is only about six years' worth of natural gas consumption for the United States, companies have leased land, drilled wells, built pipelines, and made other investments that anticipate a much larger amount of gas in the Marcellus Shale [7].

As recently as 2002, the United States Geological Survey in its Assessment of Undiscovered Oil and Gas Resources of the Appalachian Basin Province, calculated that the Marcellus Shale contained an estimated undiscovered resource of about 1.9 trillion cubic feet of gas.

[1] That's a lot of gas, but spread over the enormous geographic extent of the Marcellus, it was not that much per acre.

Marcellus Shale Stratigraphy: The stratigraphic nomenclature used for the rocks immediately above and below the Marcellus varies from one area to another. In early 2008, Terry Englander, a geoscience professor at Pennsylvania State University, and Gary Lash, a geology professor at the State University of New York at Fredonia, surprised everyone with estimates that the Marcellus might contain more than 500 trillion cubic feet of natural gas.

Information for Western Pennsylvania and Northwestern New York is shown above. Using some of the same horizontal drilling and hydraulic fracturing methods that had previously been applied in the Barnett Shale of Texas, perhaps 10% of that gas (50 trillion cubic feet) might be recoverable.