Natural gas, unlike oil, is not traded on the global commodities market. It’s a regionally priced commodity and the Marcellus is well situated to take advantage of its strategic geographic location. As you may know, with the northeastern population centers at the Marcellus’ doorstep, there are no shortages of markets for the gas produced here in Pennsylvania. And while gas prices are just above historic lows, and operators have reallocated their capital investments to more liquids-rich formations, the Wall Street Journal recently reported that according to an analysis by Barclays Bank, “the best areas such as the Marcellus Shale are competitive with new oil wells in the Bakken shale based on current futures.” This is significant in many ways, meaning that the economics of drilling a Marcellus well are now on par with Bakken Shale, an oil field located in the western United States.