The scope of development activities that have resulted from the race to extract natural gas from newly discovered unconventional shale gas formations promises to affect the marketability of real estate in Pennsylvania for years to come. While the focus of this article is on land within the Marcellus and Utica Shale regions, its observations will be useful to landowners considering oil and gas leasing and mineral rights transfers associated with land located in new unconventional shale gas plays throughout the U.S.