Coterra Energy (Cabot O&G)

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…
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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…
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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:
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Commodity Price | Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | Pennsylvania | Susquehanna County

The Cabot O&G Marcellus Rocketship – To the Moon!
October 4, 2013October 4, 2013

Cabot Oil & Gas, one of our favorite Marcellus drillers, continues to amaze and astound just about everyone. Last Friday (a week ago) the company issued a new “guidance” or “this is our best, educated guess” as to how much natural gas production the company will end up producing for 2013, and how much they believe it will grow in 2014. Given Cabot is already the number one natural gas producer in PA and the first member of what MDN calls the “billion cubic feet per day” club (see Who’s a Member of the Marcellus “1 Bcf/d” Club?), it’s amazing that in 2014 they predict production will be up another 30-50% over this year. Wow!

Something just as startling and no doubt the envy of all their competitors, Cabot CEO Dan Dinges tips their hand as to what the breakeven price is at which the company starts to make money. It’s a LOT lower than even we thought is was…
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Coterra Energy (Cabot O&G) | Energy Companies | Lackawanna County | Pennsylvania | Susquehanna County

Cabot Oil & Gas Sponsors Clay Shoot for NE PA Charity
September 24, 2013September 23, 2013

Cabot Oil & Gas continues to be one of those companies that truly impresses MDN. Last year the company was a key in donating more than $2 million of its own money, and key in spurring on other companies to contribute another $2.4 million so that a stalled project to build a new hospital in Montrose, PA finally got off the ground (see Cabot Effort Raises $4.4 Million for PA Physicians Clinic). Cabot’s actions are more than just a photo op and quick PR gimmick. You don’t pony up $2 million of your own (and investors’) money, and dedicate countless hours of your staff’s time, unless you’re serious about being a good neighbor.

Cabot is “at it again”! This time they’re sponsoring a sporting clay tournament in northeastern PA with all proceeds to benefit what they call “the amazing” St. Joseph’s Center in Scranton, PA. MDN encourages you to consider going to the clay shoot or if you can’t, donating to this very worthy cause…
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Chesapeake Energy | Commodity Price | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Industrywide Issues | Range Resources Corp

Production from 4 Marcellus Drillers Keeps U.S. NatGas Prices Low
September 19, 2013September 19, 2013

An article on the investor website The Motley Fool does a good job of putting into context the enormous importance of the Marcellus Shale. According to the article, even though production from other major U.S. shale plays like the Haynesville has fallen in recent years, Marcellus production is up so dramatically it single-handedly keeps the price of natural gas low in this country.

The article (read it below) also gives a quick roundup of four key drillers driving the success of the Marcellus…
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Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

Gas Drilling Helps Save a Piece of African American History in PA
September 17, 2013September 17, 2013

Next door to Dimock (in Susquehanna County), PA is the other story about gas drilling you almost never hear about in mainstream media: How gas drilling is helping preserve an historic African America farm that dates back to the early 1800s. The reason you don’t hear much about it is because Denise Dennis, heir and president of the Dennis Farm Charitable Land Trust, changed her view on gas drilling. Three years ago Dennis gave a stirring anti-drilling speech at a Philadelphia City Council meeting saying extracting natural gas was as dirty as coal mining. Last year about this time, she signed a gas lease with Cabot Oil & Gas for $800,000 (see Leading Anti-Driller Does 180, Signs Lease with Cabot in PA). It was an about-face for Dennis…
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Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | Litigation | Pennsylvania | Susquehanna County

Dimock Family & Lawyers in Legal Hot Water for Secret Assistance
September 16, 2013September 16, 2013

“Dimock” is the issue that won’t die because the media and anti-drillers won’t let it. The latest installment in this soap opera: Landowners Scott and Monica Ely refused Cabot Oil & Gas’ offer to settle in 2012, although virtually all other landowners who say Cabot contaminated their water wells with methane (natural gas) did settle. The Elys were hoping for a bigger payday, so they kept on–against the advice of their lawyers.

The Elys told the court they couldn’t find legal help so they would represent themselves. Then, against legal and ethical standards, a pair of lawyers (one of them from the firm previously representing the Dimock families) secretly helped them anyway. The Elys and their surreptitious lawyers are now in legal hot water…
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Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

Cabot Investor Presentation from August: Cool Maps & More
September 5, 2013September 5, 2013

A few weeks back Cabot Oil & Gas released their latest Investor Presentation, prepared for the EnerCom Oil & Gas Conference held in Denver (August 12, 2013). We always enjoy Cabot’s PowerPoint presentations because they’re so informative. This latest presentation doesn’t disappoint.

We’ve embedded the full presentation below. Our favorite slides: Cabot’s Marcellus Summary map on page 12, which overlays a map of Susquehanna County, PA with township boundaries and flags showing not only where their wells are located (by township), but also which ones are producing the most (by color). Very cool. We also like the Interstate Pipeline map on page 18, showing how Cabot gets all that gas–now over 1 billion cubic feet per day–to market…
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Coterra Energy (Cabot O&G) | Education | Energy Companies | Industrywide Issues | Luzerne County | Pennsylvania

Cabot to Teach Hazelton, PA 9th Graders How to Frack
August 28, 2013August 28, 2013

Ninth-grade students at a new magnet school opening this fall in the Hazelton, PA area will be taught a series of lessons on the technology, economics and environmental issues related to fracking and shale gas drilling. The plan calls for the school’s teachers to lead four lessons in the series, an “environmentalist” (i.e. anti-driller) will teach one lesson, and someone from Cabot Oil & Gas, the northeast PA driller funding the program, will teach two of the lessons. There’s sure to be stiff opposition to Cabot’s involvement from the anti-drillers. “Fair” to them would be Cabot pays for the whole thing but anti-drillers are the only voices heard in the classroom. Not this time!

MDN finds it amusing the program will feature a mock town hall meeting complete with squabbling neighbors and people falsely claiming their water wells have been contaminated. We need to learn ’em young, ya know…
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Coterra Energy (Cabot O&G) | Education | Energy Companies | Industrywide Issues | Lackawanna County | Pennsylvania

Lackawanna College NatGas Program to Get Boost from Obama Visit
August 22, 2013August 22, 2013

MDN attended and reported on the grand opening of a new CNG fueling station in Susquehanna County, PA last week (see Cabot Launches CNG Fueling Station in NE PA). One of the presenters at that event was Mark Volk, president of Lackawanna College. Dr. Volk was there to sing the praises of Cabot Oil & Gas and their key support for Lackawanna’s new-but-rapidly-growing Petroleum & Natural Gas Technology program. Cabot has not only contributed money but also equipment and expertise to the program, one of only four or five programs like it in the country.

Lackawanna College–a 1,600-student, private 2-year school near Scranton, PA–is about to emerge on the national stage in a big way, and by extension, Cabot as well. President Obama will visit the school tomorrow (Friday, August 23) and deliver a speech “to the nation and world” from Lackawanna, no doubt touting the role of Lackawanna in preparing students through programs like the Petroleum & Natural Gas Technology program. In honor of President Obama’s visit and to celebrate Obama’s recognition of the importance of an educated workforce for the northeast and particularly for the vitally important oil and gas industry, Cabot’s own George Stark has penned the following exclusive “guest post” for MDN readers…
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Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | NG Vehicles | Pennsylvania | Susquehanna County

Cabot Launches CNG Fueling Station in NE PA
August 16, 2013August 16, 2013

MDN editor Jim Willis (that’s me) had the pleasure of a late summer/early autumn drive from Binghamton to Dimock, PA yesterday. I attended the official opening of Cabot’s compressed natural gas (CNG) facility near Dimock. On hand for the ceremony were not only officials from Cabot, but also local politicians, a rep from the state DEP, local colleges and others.

George Stark, Cabot’s chief spokesman and director of external affairs, kicked off the event by calling the Marcellus Shale in Susquehanna County (the only place in PA they drill), a “generational” shale play. He said “production here is just prolific” and that what Cabot and others are doing in Susquehanna County is “changing the world.” His comments may seem like hyperbole, but indeed they are not…
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Coterra Energy (Cabot O&G) | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Susquehanna County

Dimock: Tell a Lie Long Enough… 2 Residents Want Case Reopened
August 13, 2013August 13, 2013

The Dimock, PA story simply won’t go away–because the mainstream media won’t let it. Tell a lie long enough… Two Susquehanna County residents (one of them from Dimock, the other from 20 miles away from Dimock) who have sued Cabot Oil & Gas claiming nearby drilling and fracking polluted their water wells, are on their way to Washington, DC in yet another publicity stunt to request the federal Environmental Protection Agency (EPA) re-open its investigation of Dimock. Apparently the “revelation” that someone inside the EPA may have created a PowerPoint slide favorable to their plight has given them renew hope. So off they go–even though the EPA has already conducted a months-long, detailed scientific study of 64 water wells all around Dimock Township and found very few problems–almost all of which have been or could be corrected (see EPA Closes the Door on Dimock Investigation – Water is Clean).
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Commodity Price | Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | Pennsylvania | Research | Susquehanna County

At What Mmcf Price Do Shale Drillers Make Money?
August 8, 2013August 8, 2013

Ken Medlock, senior director of Rice University’s Baker Institute Center for Energy Studies and a team of Rice researchers recently performed a study of shale drilling economics. One of the questions they looked at: At what price per million cubic feet (or Mmcf) must a driller sell the gas in order to at least break even and not lose money? They have some interesting findings…
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Accidents | Coterra Energy (Cabot O&G) | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Research | Susquehanna County

EPA’s Dimock PowerPoint Revealed – But, is it Real?
August 6, 2013August 6, 2013

Apparently the Los Angeles Times has a friend in the radically left DeSmogBlog and so has shared the famed, single EPA PowerPoint presentation that supposedly blames drilling and fracking by Cabot Oil & Gas for methane in nearby water wells. DeSmogBlog has an “exclusive” copy of said PowerPoint, so we assume they got it from the LA Times. We grabbed a copy from the DeSmogBlog website and embedded it below so you can read it and evaluate it for yourself.

The most recent hubbub about Dimock arose when the LA Times trumpeted they have in their possession a never-before-seen secret/internal “report” from the EPA–which turns out to be a PowerPoint presentation–blaming Cabot’s fracking for water problems in Dimock, PA (see LA Times Attempts New Hatchet Job on Fracking in Dimock). Is this finally the smoking gun? Is the Obama EPA now covering up evidence against evil “big oil & gas”?…
Read More “EPA’s Dimock PowerPoint Revealed – But, is it Real?”
Coterra Energy (Cabot O&G) | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Susquehanna County

LA Times Attempts New Hatchet Job on Fracking in Dimock
July 30, 2013July 30, 2013

It appears that the Los Angeles Times needs to bump up their circulation numbers, so this past Sunday they trotted out the “Dimock” story once again (perhaps inspired by watching Gasland 2 on HBO). The Times claims to have a leaked “internal report” from the EPA, which we learn is (laughably) a PowerPoint presentation, not a real report. The article’s fictional thesis is that “big oil” has gotten to the Obama EPA and that at least some brave souls inside the EPA still believe, contrary to their own scientist’s research, that shale drilling in Dimock, PA was responsible for “contaminating” nearby water wells with methane and nefarious chemicals like arsenic–even though arsenic is naturally occurring throughout the region. (Pay no attention to those naturally-occurring chemicals behind the curtain, Toto!)

MDN would like to make a bold assertion: The LA Times emperor has no clothes. We’ve searched high and low and the so-called PowerPoint “EPA report” they claim to have possession of is nowhere to be found. We think it probably exists. Maybe. Perhaps. However, what we have is the LA Times making a wild claim–their own interpretation–of what is on the PowerPoint slides, without sharing the source document with anyone else. Given the Times and its reporters are liberal and anti-drilling in the extreme, excuse us if we say that until they share the so-called EPA internal report, we assume they’re lying about what’s in it. The motives and veracity of reporting by the Times is to be questioned and is, for us, the real story here…
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