On July 19, the governor announced the members of the Marcellus Shale Advisory Commission-a panel formed to study the short-term and long-term effects of potential natural gas drilling in the Marcellus Shale in western Maryland. The Marcellus Shale contains the nation's largest-known natural gas reservoir, and is located in the eastern United States.  

If Maryland approves the exploration of Marcellus Shale, it could mean much more than just drilling, but would likely have tax implications on natural gas companies, their subcontractors, and other members of the industry that provide support to natural gas companies. Reed Smith has been active in evaluating the state tax implications related to exploration of Marcellus Shale in Pennsylvania and will be closely monitoring the developments in Maryland.