Cabot Oil & Gas announced operational updates, including for their Marcellus shale project.
Cabot Oil & Gas (NYSE:COG) announced operational updates, including for their Marcellus shale project.
As quoted in the press release:
Based on recently released data from the state of Pennsylvania, the Company had 15 of the top 20 producing Marcellus wells in the state during 2012. Cabot’s cumulative production in the field has reached 500 Bcf in just over four years of activity. Today’s gross production, depending on operational variations, remains at one Bcf per day and has reached a record of 1.038 Bcf in one 24-hour period.
Cabot’s President and CEO, Dan Dinges, said:
While we derive value from each of our plays, the Marcellus continues to be the primary contributor to our recent success.