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Marcellus, Utica natural gas assessments nearly doubled by USGS

The U.S. Geological Survey (USGS) on Thursday, October 3 sharply raised its assessments for the Marcellus and Utica shale formations, estimating they hold a mean of 214 Tcf of undiscovered, technically recoverable natural gas resources -- with the Utica now topping the Marcellus. The revised figures also include estimates for the Point Pleasant formation, a deeper horizon below the Utica often targeted by unconventional producers. The new assessment is a significant increase from the last time USGS updated the figures. In 2011, the Marcellus was estimated to contain 84 Tcf and in 2012 it estimated that the Utica contained 38 Tcf.