In less than 10 years, the production of natural gas has more than tripled. That’s the reason for the heightened interest in Madison County properties that cover the Marcellus Shale Formation, according to Assistant Attorney General Joel Marmelstein.
The formation is believed to contain possibly the largest find of natural gas in the country’s history, and Marmelstein of the AG’s Utica office says that while much of the growth in production has been contained to the Southern Tier, it is unreasonable to think this formation won’t follow the same pattern of development in other parts of the state.
Michael J. Danaher Jr. of the AG’s Binghamton office spends much of his work life in public advocacy. He said as technology has advanced, the ability to find and drill for natural gas has become more lucrative, and the incentive? The price of natural gas nearly tripled between 2002 and 2007, Danaher said.
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