Date updated:07-17-2008
The Marcellus Shale is quickly becoming the biggest thing in the U.S. natural gas industry since the Barnett Shale. As investors, we know that if you want exposure to the Marcellus you cannot just buy any company with Marcellus acreage. You need to buy the company with the greatest exposure to the Marcellus if you want to maximize your investment gains. Unfortunately, I have not been able to find any publicly traded company that is a true pure play on the Marcellus Shale. But, after looking at the different companies involved in the play, some clearly stand out as having more exposure than their peers.

-
ATN
Atlas Energy Reso - $17.66
- -8.64%
- $19.36
Marcellus Acreage: 516,000 Debt: 925MM Market Cap: 2.4BB EV: 3.3BB EV/Marcellus Acres ($): 6,574

-
RRC
Range Res Corp - $32.59
- -7.94%
- $32.92
Marcellus Acreage: 1,150,000 Debt: 1.7B Market Cap: 9.2BB EV: 10.9B EV/Marcellus Acres ($): 9,564

-
REXX
Rex Energy Corpor - $7.50
- -16.94%
- $8.94
Marcellus Acreage: 57,000 Debt: 81MM Market Cap: 880MM EV: 961MM EV/Marcellus Acres ($): 16,860

-
QRCP
Quest Resource Co - $0.52
- -11.86%
- $0.57
Marcellus Acreage: 119,000 Debt: 339MM Market Cap: 313MM EV: 652MM EV/Marcellus Acres ($): 5,484

-
CHK
Chesapeake Energy - $21.12
- -9.43%
- $21.86
Marcellus Acreage: 1,200,000 Debt: 14.5BB Market Cap: 30.6BB EV: 45.1BB EV/Marcellus Acres ($): 37,643

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XCO
Exco Resources In - $7.58
- -21.21%
- $9.15
Marcellus Acreage: 415,000 Debt: 2.9BB Market Cap: 3.4BB EV: 6.3BB EV/Marcellus Acres ($): 15,320

-
COG
Cabot Oil Gas Cp - $25.22
- -10.79%
- $26.66
Marcellus Acreage: 100,000 Debt: 4.48BB Market Cap: 5.4BB EV: 5.9BB EV/Marcellus Acres ($): 59,380

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EQT
Equitable Res Inc - $25.22
- -10.09%
- $26.99
Marcellus Acreage: 300,000 Debt: 1.9BB Market Cap: 7.4BB EV: 9.3BB EV/Marcellus Acres ($): 31,157
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