Cabot Boasts Highest Producing Wells in the Marcellus/Utica
Cabot Oil & Gas announced yesterday that they’ve reached an important production milestone: They now produce more than one billion cubic feet of natural gas per day from the Marcellus Shale. All of Cabot’s Marcellus drilling happens in Susquehanna County, PA, so put another way, Susquehanna County is now producing more than a billion cubic feet of natural gas each and every day—and Cabot is not the only active driller in Susquehanna County! The company credits, in part, the rapid build out of pipeline infrastructure by Williams for the huge increase in production.
Buried in the same press release is what MDN considers major news. Two of Cabot’s recently drilled wells (on a single well pad) have a combined production rate exceeding 66 million cubic feet of natural gas per day (doing the math, each well averages 33 Mmcf/d). Compare that to Gulfport’s top-producing Utica Shale well, which produces 28.5 Mmcf/d (see this MDN story). Of course, there is one major difference between the Marcellus wells in northeast PA and the Utica wells in eastern OH…
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This is an astonishing turnaround. Denise Dennis, a very vocal critic of gas drilling and someone who caught national attention two years ago by denouncing natural gas drilling and comparing it to the tobacco industry at a Philadelphia City Council meeting, has just signed a lease with Cabot Oil & Gas to allow drilling under her historic property in Susquehanna County, PA.
WPX Energy, a company formed in January 2011 by Williams (created by spinning off the Williams exploration and production division) released their third quarter financial and operational update last week. The report losing $64 million in 3Q12. Most of WPX’s operations and focus has been in plays other than the Marcellus, including a big focus on the Bakken Shale, where they drill for oil, and the Piceance Basin in northwestern Colorado where they drill for wet natural gas.
Dimock Proud, a group of homeowners in and around Dimock, PA who have banded together to defend their town’s reputation against mainstream media news attacks painting the area as a contaminated wasteland, report that two residents who have been among the most vocal critics against drilling and against Cabot Oil & Gas, Craig and Julie Sautner, have settled their lawsuit with Cabot and have left town.
Now that most of the families in and around Dimock, PA who previously sued Cabot Oil & Gas claiming their water had been contaminated by nearby drilling have settled with the company (