Coterra Stops Drilling New Wells in Marcellus, Fracking Ends Soon

We never thought we'd see the day when we would write the headline that Coterra (nee Cabot Oil & Gas) was pulling all of its active rigs in the Marcellus in Susquehanna County, PA. But today is that day. It makes us profoundly sad (and the primary reason we opposed the merger of Cimarex and Cabot, see Markets “Baffled” by “Unexpected” Cabot Merger with Cimarex). Coterra CEO Tom Jorden was interviewed during a session last week at the Barclays 38th Annual CEO Energy-Power Conference. As part of the Q&A, Jorden confirmed (dropped the bombshell) that his company has just "released our last rig in the Marcellus."

To view this content, log into your member account. (Not a member? Join Today!)