Marcellus ShaleNoble Energy's presence in the Marcellus Shale began in 2011 by virtue of a joint venture (JV) agreement with CONSOL Energy. The Marcellus Shale is recognized among the lowest cost domestic shale plays, and it is ideally located near major demand markets in the northeast U.S.
During 2013, the JV increased its position in the Marcellus Shale to over 700,000 gross acres following two strategic bolt-on acquisitions. While CONSOL operates rigs in the dry gas portion of Marcellus, we operate rigs in the wet gas areas.
We are implementing an Integrated Development Plan approach in the Marcellus, similar to the DJ Basin. Our activities are resulting in a significant reduction in well costs, enhanced well performance and an increased number of extended reach laterals.