Coterra Energy (Cabot O&G)

Coterra Energy (Cabot O&G) | Energy Companies | Energy Services | Industrywide Issues | Pipelines | Regulation | Williams

FERC: Constitution Pipeline Should Make Changes to Lessen Impacts
February 14, 2014February 14, 2014

From the beginning when it was first proposed, MDN has chronicled the journey of the proposed 125-mile Constitution Pipeline, a natural gas pipeline that will stretch from the gas fields of Susquehanna County, PA to central New York where it will connect with two major interstate transmission Pipelines–the Tennessee Gas Pipeline and the Iroquois Gas Transmission pipeline. We have an important milestone to report on the Constitution. Wednesday, the Federal Energy Regulatory Commission (FERC), the federal agency in charge of approving these kinds of pipeline projects, issued a Draft Environmental Impact Statement (EIS) for the project (the Executive Summary is embedded below).

In brief, the draft EIS, which is now open for public comment until April, says that the project as proposed does pose some threats to the environment, but that those threats can be reduced to “less than significant levels” if Williams, the builder of the pipeline, makes certain changes and takes certain precautions. FERC also said there’s no better alternative to meeting the energy needs for hundreds of thousands of people–that the Constitution is the best option out there for delivering more natural gas to the northeast in a timely manner. To do nothing is not an option, according to FERC, and there are no other pipelines that can do what the Constitution will do. This EIS was FERC essentially blessing this project–with certain conditions attached…
Read More “FERC: Constitution Pipeline Should Make Changes to Lessen Impacts”
Coterra Energy (Cabot O&G) | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Susquehanna County

Vol 2 Photojournal for Cabot Well in Susquehanna County, PA
January 31, 2014January 31, 2014

A quick note to let you know that tomorrow (Saturday, Feb. 1) you can once again download Photojournal of a Pennsylvania Natural Gas Well: Book 1: Ground Preparation. It’s a really cool book of photos (and captions) taken by a non-professional photographer, Susquehanna County resident Janice Gavern. MDN recently reported on Janice’s project to document a Cabot Oil & Gas shale well being drilled just outside of Montrose, PA, close to (yes) Dimock (see PA Resident Snaps 8,000 Pictures of Cabot Well Construction).

Jancie has been a busy beaver. She’s now posted her second volume in this multi-volume series: Photojournal of a Pennsylvania Natural Gas Well: Book 2 Site Set-up. You can grab a copy of this volume for free on Sunday, Feb. 2. Be sure to grab them while they’re free! It will save you $9.99 (or if you like, download it and pay the $9.99 to give Jan a little bit of money for her efforts).

What if you don’t own a Kindle reader? No problem. You can download and install a Kindle reader application on your computer, smartphone–just about any device you have that connects to the internet. So don’t lack of a Kindle stop you from grabbing a copy of Jan’s books.
Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

PA Resident Snaps 8,000 Pictures of Cabot Well Construction
January 21, 2014January 21, 2014

MDN editor Jim Willis received an excited phone call from Susquehanna County, PA resident Janice Gavern after being pointed in our direction by Cabot Oil & Gas. Janice, who runs a goat farm with her daughter near Montrose, PA (and a cancer survivor) started a project a few years back to document the drilling of a shale well on her friend’s property. As Janice says, after she visited the site, just to “keep an eye on things” and snapped her first picture, she was hooked. And the rest, including some 8,000 pictures taken with Janice’s little digital camera, is history. At least that’s what Janice hopes.

Janice’s aim in doing a photo documentary of the drilling process is to preserve an important bit of Susquehanna County history, for future generations. Janice has selected 650 of the 8,000 pictures and compiled them into an e-book on Amazon–the first e-book of a series she’s planning. The first batch cover site preparation and building the well pad–up to the point when the drill arrives. She’s done a fabulous job, and we’re happy to help her make it known to the world. In fact, although the e-book normally retails for $9.99, you can order it FREE today and then again on Feb. 1. We recommend you head on over and download it right now. Here’s a bit more of Janice’s story as told by the Scranton Times-Tribune…
Read More “PA Resident Snaps 8,000 Pictures of Cabot Well Construction”
Coterra Energy (Cabot O&G) | Energy Companies | Exporting | Industrywide Issues | Pennsylvania | Pipelines | Susquehanna County

Cabot Signs Deal to Export Gas via Cove Point, MD
December 20, 2013December 20, 2013

The good news continues to roll out of Cabot Oil & Gas. In a corporate updated issued yesterday, the company said they’ve signed a deal with Pacific Summit Energy (a subsidiary of Japanese company Sumitomo) to export up to 350,000 million Btus of natural gas per day via Dominion’s planned Cove Point, MD LNG export facility. The Cove Point facility is currently supposed to be in operation in 2017. The deal runs for 20 years. Previously, MDN told you that Japan and India have already spoken for 100% of LNG exports from Cove Point (see Dominion’s Cove Point LNG Facility Achieves Important Milestones).

In what seems to be unrelated but actually is related, Cabot also said they’ve achieved another milestone–they now produce 1.5 billion cubic feet of natural gas per day out of their wells in Susquehanna County, PA. That’s just one year after hitting 1 Bcf/d! So in one year production has skyrocketed another 50%. Truly astonishing. How much of today’s current production is Cabot committing to send overseas?…
Read More “Cabot Signs Deal to Export Gas via Cove Point, MD”
Coterra Energy (Cabot O&G) | Economic Impact | Energy Companies | Industrywide Issues | Jobs | Pennsylvania | Supply Chain | Susquehanna County

Scranton TV Station: NEPA Community Benefits from Cabot (Video)
December 19, 2013December 19, 2013

An interesting TV segment was recently filmed about the role of Cabot Oil & Gas in providing local jobs and a boost to the local economy where they drill in rural Susquehanna County, PA. The video, filmed by Scranton TV station WNEP Channel 16, highlights the partnership Cabot has developed with several vendors (supply chain) and points out Cabot’s long-term commitment to the community–a commitment that will go on for decades to come.

If you want “the other side of the story,” the side that shows what a good corporate citizen looks like and how gas drilling enormously benefits an entire community, take the time to watch this enlightening 6-minute video:
Read More “Scranton TV Station: NEPA Community Benefits from Cabot (Video)”
Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

Cabot Oil & Gas & The Marcellus – An “Unstoppable” Combination
December 10, 2013

Cabot Oil & Gas continues to exceed expectations and, well, impress just about everybody! Yesterday Cabot issued an operations update. Among the highlights: They’ve just completed a 10-well pad in Susquehanna County (dry gas portion of the Marcellus). Calling it, “the new standard for operational efficiencies and technological advancement,” Cabot said the 10-well pad was completed with 170 frac stages and had a combined peak production rate of a huge 201 million cubic feet (Mmcf) per day. That’s an average of 20.1 Mmcf/d per well for all 10 wells! This is exciting stuff folks.

In addition to the excellent Marcellus news, Cabot announced they’ve sold more of their mid-continent “non-core” assets, bringing the total to $325 million worth of non-core assets this year. A good share of that money is being invested in the Marcellus. Below we have the full Cabot press release, the Cabot investor slide deck (with some great charts and maps), and energy analyst Robert Zeit’s key takeaways from yesterday’s update…
Read More “Cabot Oil & Gas & The Marcellus – An “Unstoppable” Combination”
Coterra Energy (Cabot O&G) | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Litigation | Pennsylvania | Susquehanna County

Cabot Buys Second Dimock, PA Property on Carter Road
November 25, 2013November 25, 2013

Contrary to the desires of Josh Fox and other anti-drillers, the “Dimock” story continues to fade away into obscure history. A month ago MDN told you about the former house of some of the loudest Cabot critics who used to live in Dimock, PA–the Sautners. Craig and Julie Sautner sold their house and 3.6 acres to Cabot last year and snuk out of town with $167,500 (see Fracking Opponents Craig & Julie Sautner Sell, Leave Dimock). Last month, the old Sautner house was leveled and the property was sold to the neighbor for a measly $4,000 (see End of an Era? Sautner’s Dimock Home Leveled, Property Sold).

Another Dimock property has just been sold to Cabot, albeit for not quite as much. Mike Ely sold his 12-acre property on Carter Road (including double-wide trailer) to Cabot for $140,000…
Read More “Cabot Buys Second Dimock, PA Property on Carter Road”
Commodity Price | Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | Pennsylvania | Susquehanna County

Cabot O&G: Marcellus Cost Structure Goes Through the…Floor!
November 25, 2013November 25, 2013

Cabot Oil & Gas continues to impress and astonish the drilling industry. MDN has written many times before about Cabot’s ability to spin “gold” (profits) from “hay” (low cost price environment). Cabot recently presented at a pair of “global energy conferences” arranged by investment firms Jeffries & Co. and Bank of America Merrill Lynch. We have the slide deck from each (which is pretty much identical) and we’ve embedded it below. You’ll want to review it if you have an interest in the Marcellus Shale.

One of the startling pieces of information we glean from it: Starting in 2009 Cabot’s cost to drill and produce gas was $2.47 per thousand cubic feet (Mcf). By 2013, that number had dropped to an average $1.37/Mcf. Next year, in 2014, Cabot says their Marcellus per unit cash cost, the cost of drilling and producing, will be around…
Read More “Cabot O&G: Marcellus Cost Structure Goes Through the…Floor!”
Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Statewide PA

Cabot’s NE PA Wells “Some of the most productive on Earth”
November 18, 2013November 18, 2013

The mainstream media catches up to MDN and other industry-focused publications–eventually. On October 14, 2013, MDN gave you the details for the top 10 most productive wells in the Marcellus Shale with respect to natural gas production. We told you eight of those top 10 are found in one northeastern Pennsylvania county–Susquehanna–and are drilled by the same driller: Cabot Oil & Gas (see PA’s Top 10 Marcellus Shale Wells – Full Details). A Wilkes-Barre newspaper has finally come along to also blow the trumpet about how productive Cabot has been in Susquehanna County. They too make the observation that Cabot’s natural gas wells may be “some of the most productive on Earth.” Indeed.

But this mainstream story also brings to light information MDN is sometimes asked and until now didn’t have a ready answer for: When it comes to Cabot in the Marcellus with “dry gas,” or companies like Gulfport in the Utica, very successful with “wet gas,” are they just lucky in hitting the “sweet spot”? Or are they smart about the geographies where they decide to lease and drill? Although luck plays a role, this article, in talking about Cabot’s work in the Marcellus, says they fully knew what they were doing when they leased up thousands of Susquehanna County acres. Forthwith, a really good story from a mainstream media source!…
Read More “Cabot’s NE PA Wells “Some of the most productive on Earth””
CNG/LNG | Coterra Energy (Cabot O&G) | Education | Energy Companies | Industrywide Issues | Lackawanna County | Luzerne County | NG Vehicles | Pennsylvania | Wyoming County (PA)

Cabot’s Big CNG Celebration at Johnson College in Scranton, PA
November 8, 2013November 8, 2013

Yesterday Cabot Oil & Gas held a “CNG Celebration” at Johnson College in Scranton, PA. Unfortunately MDN could not be on hand to help celebrate. However, we do have a couple of stories to bring you from that event.

The purpose of the event was several-fold: announce Johnson College’s curriculum expansion with new courses in compressed natural gas (CNG) technology and eventually a certification (with financial and technical assistance from Cabot); PA DEP Sec. Chris Abruzzo was on hand to announce $3 million in grants to businesses and organizations to purchase or retrofit vehicles to run CNG (see our companion story today); welcome the Marcellus Shale Coalition’s new executive director, David Spigelmyer; and show off some impressive big trucks and other vehicles running CNG. “Celebration” is an appropriate word that about covers it!…
Read More “Cabot’s Big CNG Celebration at Johnson College in Scranton, PA”
Anti-Drilling/Fossil Fuel | Coterra Energy (Cabot O&G) | Crime | Energy Companies | Industrywide Issues | Pennsylvania | Susquehanna County

NE PA Anti-Driller Slapped with Trespassing Injunction
October 28, 2013October 28, 2013

Vera Scroggins is a minor celebrity in Susquehanna County, PA–perhaps even beyond. Josh Fox of Gasland fame knows her and loves her. She certainly knows how to harass people she disagrees with (see “The Final Ploy of the Desperate” Natural Gas Opponents for one shining example of her charm). Scroggins has, until now, created a cottage industry of taking “tour groups” around to fracking sites in Susquehanna County–trespassing and pushing her ever-present camera into the face of private landowners (who have asked her to leave) and into the face of gas workers.

Cabot Oil & Gas, the company leasing many of the sites targeted by Scroggins, finally went to court to keep her from harassing private landowners and their workers. That is, Cabot asked the court to stop Scroggins from breaking the law. And the court has now done so by issuing a temporary injunction against Scroggins which will remain in force until a hearing for a permanent injunction is held…
Read More “NE PA Anti-Driller Slapped with Trespassing Injunction”
Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

Zeitsgeist: Is 20 Bcf per Well the New Marcellus Standard?
October 28, 2013October 28, 2013

Energy analyst and Seeking Alpha blogger Richard Zeits asks the question, is 20 billion cubic feet (Bcf) per well is the new operating standard for the Marcellus Shale? He asks the question based on the latest quarterly update issued by Cabot Oil & Gas last week for their operation in Susquehanna County, PA. Zeits says Cabot’s report is further proof that the “sweet spot” for dry gas in the Marcellus is northeastern PA.

Zeits starts his latest sterling analysis this way:
Read More “Zeitsgeist: Is 20 Bcf per Well the New Marcellus Standard?”
Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

Cabot 3Q13: Production Up 61%, 4 Wells Produced Avg 27.5 Mmcf/d
October 25, 2013October 27, 2013

Quarterly reporting season continues. Yesterday Cabot Oil & Gas, one of our favorite Marcellus drillers, reported that production for 3Q13 averaged an amazing 107.1 billion cubic feet for the quarter. That’s a 61% increase over the same time last year. Truly astonishing. Also of interest, during 3Q13 Cabot drilled a pad with four wells in Susquehanna County, PA with 109 total frac stages across the four wells. Those combined four wells produced an initial production rate of 110 million cubic feet per day (Mmcf/d)–an average of 27.5 Mmcf/d per well! Just unheard-of rates.

Here’s Cabot’s 3Q13 financial and operations update from yesterday, with details of the Marcellus drilling operations in Susquehanna County, PA:
Read More “Cabot 3Q13: Production Up 61%, 4 Wells Produced Avg 27.5 Mmcf/d”
Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

End of an Era? Sautner’s Dimock Home Leveled, Property Sold
October 21, 2013October 21, 2013

It becomes harder and harder for mainstream media to keep the Dimock story alive. Dimock is a rural community in Susquehanna County, PA made famous by Josh Fox and his Gasland fictional movies. Without rehashing the entire story yet again, suffice it to say that nearby Marcellus drilling by Cabot Oil & Gas was said (by the PA Dept. of Environmental Protection) to have caused methane to migrate into some of the area’s water wells–especially around the Carter Road area.

The DEP ordered Cabot to install fixes on said wells and pay homeowners twice their property’s value, which they tried to do. Some of the families wouldn’t allow the fix and wouldn’t accept payment. Instead they sued, hoping for piles of money. One of those families was the Sautners…
Read More “End of an Era? Sautner’s Dimock Home Leveled, Property Sold”
Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

Cabot Sells TX & OK Properties – Plows Proceeds into Marcellus
October 18, 2013October 18, 2013

Cabot Oil & Gas is an amazing company. They (currently) drill in a single northeastern Pennsylvania county–Susquehanna County. And in that single county they have 8 of the top 10 producing Marcellus shale wells in the entire state (see PA’s Top 10 Marcellus Shale Wells – Full Details). Cabot produces an amazing 1 billion cubic feet (Bcf) of natural gas per day from their wells in Susquehanna County (see Who’s a Member of the Marcellus “1 Bcf/d” Club?). And get this, they can make money on selling their gas for as low as $1.20 per thousand cubic feet (Mcf). That has to rank them among the best-run, most efficient drillers in the world. No wonder the company, with just 1/10th of the revenues of Chesapeake Energy, is worth more than Chessy (see Corporate Hubris Humbles Chesapeake – Cabot Soars Sure & Steady).

So it shouldn’t surprise you to learn that Cabot has just sold off more (the rest of?) it’s oil and gas properties in West Texas and Oklahoma for $188 million and plans to invest that money in the Marcellus…
Read More “Cabot Sells TX & OK Properties – Plows Proceeds into Marcellus”
Bradford County | Chief Oil & Gas | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Greene County (PA) | Lease & Royalty Payments | Pennsylvania | Susquehanna County

PA’s Top 10 Marcellus Shale Wells – Full Details
October 14, 2013October 14, 2013

Who doesn’t like a Top 10? We have one for you: What are the Top 10 producing Marcellus Shale wells in Pennsylvania? Would it surprise you to learn that 8 of the top 10 wells are found in a single PA county, drilled by the same driller?

Here’s the Top 10 PA Marcellus Well List, complete with the name of well, county, driller, estimated earnings per day and estimated royalties paid per day:
Read More “PA’s Top 10 Marcellus Shale Wells – Full Details”