Cabot Oil & Gas Reaches Milestone with Marcellus Production at One Bcf per Day

Cabot Oil & Gas Corporation (NYSE: COG)  announced that their  Marcellus operations surpassed one Bcf of gross production per day, setting a new high for the company.

As quoted in the press release:

This record was primarily the result of new Marcellus wells and additional infrastructure. Specifically, a recent turned-in-line two-well pad illustrates the production potential of the Company’s Marcellus assets. This pad has wells with lateral lengths of approximately 6,900′ and 4,400′, and a combined initial production rate of over 66 Mmcf per day.

Cabot’s President, Chairman and CEO, Dan O. Dinges, said:

Throughout the month of December we have been gaining production momentum and month-to-date our total Company average net production rate is 930 Mmcfe per day, which is above our exit rate expectation expressed in our third quarter call.

To view the whole press release, click here.