Marcellus developers to stay the course even as they struggle with low prices, high costs

Oil and natural gas companies say shale development is a long-term game even as they struggle with low commodity prices and high capital costs, reports the Pittsburgh Post-Gazette. The newspaper says that is why some of the most prolific producers in the Marcellus shale play are still spending more than they take in, nearly a decade into shale development in Pennsylvania. Nick DeIuliis, CEO of Consol Energy Inc., told the Post-Gazette his company is not making decisions on today’s oil and gas prices but on future trends. “As long as our cost structure creates margins above the cost of capital, we’re going to continue drilling,” he said.