The Valuation of Drilling and Exploration Rights in the Marcellus Shale Formation

Business Valuation UpdateVol. 17 No. 6
June 2011
Joshua Lefcowitz, CPA/ABV/CFF, CVA, CFE, ASA
Brandon J. Otis, CPA/ABV/CFF, CVA, CFE


Tom Ridge, the former governor of Pennsylvania, called the Marcellus Shale a "possibly unprecedented opportunity" in energy and economic development for small businesses, professionals, and ordinary workers.1 While the debate over hydraulic fracturing roc ...