Chevron’s 1st shale-gas field is 972 square miles

San Francisco Chronicle February 17, 2011 04:00 AM Copyright San Francisco Chronicle. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Thursday, February 17, 2011

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Number of the day

972 square miles

That’s the size of a shale-gas field that Chevron is acquiring in its $3.58 billion purchase of Pennsylvania’s Atlas Energy this week. The shale formation – sedimentary rock that contains natural gas – is about the size of San Francisco and San Mateo counties combined. The deal is San Ramon-based Chevron’s first foray into shale deposits, which energy companies are tapping to reduce their dependence on foreign oil. Even amid a legal battle over pollution in Ecuador, Chevron’s stock has climbed more than 30 percent in the past year – lifted by rising oil prices.