He said the nation's strong supply of domestic natural gas will fuel the growth in the industry.
"When you really look at the supply picture of natural gas going out for the next 20 to 30 years . . . we are in an incredibly strong position," Dooley said.
He said that while other regions across the world have shale gas, they also have significant impediments to development.
France has banned extraction of natural gas using the process known as fracking, while countries in the Middle East lack the adequate water supply needed to engage in fracking of their shale regions.
Also, while natural gas activity in the United States has grown, in Europe the activity has declined - and that's expected to continue into the future.
"That's just a harbinger of things to come," Dooley said.
He said the regulatory environment on the national and local levels is also boosting confidence in the industry.
He said West Virginia leaders have laid a good groundwork for growth.
"The governor, state Legislature and federal representatives have all been very focused on trying to make sure we have a regulatory environment that's conducive to investment in Marcellus shale," Dooley said.
He also said the federal regulatory environment is much more stable today than it was 18 months ago. He doesn't anticipate any new additional regulations coming from the federal level that could hinder investment in the industry.
"I think we have may have cleared the hurdle," he said.
Contact writer Jared Hunt at busin...@dailymail.com or 304-348-4836.