Cabot Oil & Gas Calls Marcellus Operations “Prolific”; Penn Virginia Will Drill 14 New Wells in Marcellus in 2011

More gleanings from year-end financial statements from drilling companies, this time from Cabot Oil & Gas and Penn Virginia Corporation. Of note, Cabot talks about the “prolific nature” of their 44 Marcellus gas wells, and Penn Virginia will drill their second Marcellus gas well in 2011 as they continue to shift their resources to the Marcellus with plans to drill 14 wells this year.

 

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Drilling in Marcellus Shale Created 88K Jobs and $8 Billion Revenue in 2010, Will More than Double by 2020

Kathryn Klaber, president and executive director of the Marcellus Shale Coalition, spoke at the Youngstown/Warren (OH) Regional Chamber economic breakfast yesterday. She outlined the economic boom created by drilling for natural gas in the Marcellus. That boom is not only benefiting Pennsylvania, but also over the border in Ohio as well. Some of her comments included:

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