A recent study says that the Barnett Shale of Texas is said to be profitable at $4 per million British thermal units (mmBtu) of frac gas. The study was made when the price of natural gas was around $3.50/unit, but recently the price of natural gas actually has hovered around $4/unit. With about 839 rigs operating at the time of a Baker Hughes Rig count study (February 15, 2013), Texas has about half the total rigs operating in the U.S. (http://fuelfix.com/blog/2013/02/28/barnett-shale-gas-to-remain-profitable-study-finds/)
It is said that power plants switching from coal to natural gas will be profitable at prices up to $8/unit. (http://rtec-rtp.org/2011/07/04/is-shale-gas-production-profitable/)
An extensive discussion of shale gas can be seen at: http://en.wikipedia.org/wiki/Shale_gas
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