From Cabot Oil & Gas Corp. : HOUSTON, Dec. 9, 2013 /PRNewswire/ — Cabot Oil & Gas Corporation (NYSE: COG) recently reported results from the Company’s first 10-well pad in the Marcellus Shale. Additionally, the Company provided an update on its share repurchase program and announced the sale of legacy conventional Mid-Continent properties.
Cabot’s First 10-Well Marcellus Pad
Cabot recently turned-in-line its first 10-well pad in the Marcellus, which included eight Lower Marcellus wells and two Upper Marcellus wells. The 10-well pad was completed with 170 fracture stimulation (frac) stages with a combined peak production rate of 201 million cubic feet (Mmcf) per day and a combined average 30-day production rate of 168 Mmcf per day. The production rates per 1,000′ of lateral exceeded the Company’s 14 Bcf type curve, further reiterating the consistency of results across Cabot’s Marcellus position.
“This 10-well pad represents the new standard for operational efficiencies and technological advancement in our Marcellus operations,” stated Dan O. Dinges, Chairman, President, and Chief Executive Officer. “From de-risking of the Upper Marcellus and downspacing initiatives in the Lower Marcellus to drilling and completion efficiencies and bi-fuel utilization in our operations, our achievements on this pad showcase the innovation and ingenuity our team continues to demonstrate day-in and day-out.”
Highlights from the 10-well pad include:
Read more: http://www.ohio.com/blogs/drilling/ohio-utica-shale-1.291290/cabot-unveils-its-first-10-well-pad-in-marcellus-shale-in-update-1.451061