Cabot Oil & Gas Corp. on Friday said tests in the upper Marcellus Shale demonstrate the interval is a “distinct” target with results exceeding “the majority of assets” across Appalachia that’s likely to extend the life of its drilling inventory in Northeast Pennsylvania by over a decade.
Articles from Dinges
Appalachian pure-play Cabot Oil & Gas Corp. is girding for what could be another tough year for natural gas, announcing Friday that it’s evaluating plans for either modest growth or a more defensive maintenance program in 2020 to better weather commodity prices if they fall further.
Cabot Oil & Gas Corp. said Friday it would slightly increase spending this year to push out laterals and utilize three rigs contracted for the remainder of 2019, but it plans to cut the budget and grow production at a more moderate rate in 2020 on weak commodity prices.
Cabot Oil & Gas Corp. announced Friday that it has identified two new exploratory areas that could eventually compete with its core acreage in the Marcellus and Eagle Ford shales.
Cabot Oil & Gas Corp. CEO Dan Dinges sounded a resilient tone on Friday as the company continues to work through infrastructure challenges in Northeast Pennsylvania, saying 2018 could be the “inflection year” for the company with six projects expected to come online representing 2 Bcf/d of new takeaway capacity.
Construction that was soon expected to begin with a late 2016 target in-service date for the Constitution Pipeline — a crucial linchpin for plans to unlock stranded natural gas in Northeast Pennsylvania — appears increasingly unlikely as New York regulators continue holding up the project.
Cabot Oil & Gas Corp.’s production fell considerably between the first and second quarters, as low commodity prices prompted it to curtail 500 MMcf/d of gross natural gas volumes in the Northeast.
Cabot Oil & Gas Corp. plans to repurchase up to 10 million shares of its stock to generate cash flow and ramp up drilling in the Marcellus and Eagle Ford shales as it moves forward from one of the best quarters in its history, executives said Friday.