August 2, 2021

Marcellus NE PA full-cycle costs at Henry Hub range from a low of 2.60 USD/Mcf for wells with an Initial Productivity (IP) greater than 18 MMcf/d to a high of 8.50 USD/Mcf for wells with an IP of under 3 MMcf/d. There is no liquids uplift revenue associated with this basin to offset some of the full-cycle costs.

Operating costs range from 0.95-1.13 USD/Mcf  while royalties & taxes and overhead represent about 0.36 USD/Mcf. F&D costs range from 0.24-3.32 USD/MMcf and the 15% producer return ranges from 0.20-2.85 USD/MMcf. The Henry Hub differential is 0.84 Mcf/d.