Marcellus Shale is a geological formation that stretches from New York to West Virginia and encompasses almost all of Western Pennsylvania. This formation is a Middle Devonian-age black, low density, organic rich shale that occurs in the subsurface. Marcellus Shale has the potential to be the second largest natural gas field in the world. Oil and gas companies are flocking to the Pittsburgh area to take advantage of this oil and gas boom. Range Resources, Cabot Oil & Gas, Equitable Resources (EQT), and Atlas Energy are just a few of the companies working in and around Pittsburgh. Title companies, law offices, waste-water disposal companies, and engineering firms are coming to the area looking for new space, or quickly outgrowing their current space.
Shell recently signed a land-option agreement with Horsehead Corporation in Beaver County. The agreement would be the first step in building an ethane cracker plant. An ethane cracker uses heat and pressure to “crack” wet gasses, and creates ethylene, a compound used to manufacture plastic. As major corporations continue to invest around Pittsburgh, the area becomes more desirable to foreign firms. The executive director of the Pennsylvania Independent Oil and Gas Association recently spoke to the environmental committee of the European Parliament. As word continues to spread, the commercial real estate market will have less vacancy.
If your company is looking at moving to Pittsburgh to take advantage of this incredible opportunity, please contact us to help you find office or warehouse space.