Market Overview

Cabot Oil & Gas Announces Record Marcellus Production

Cabot Oil & Gas Corporation (NYSE: COG) today announced that its gross Marcellus production has averaged over 700 million cubic feet (Mmcf) of natural gas per day for the last two weeks, hitting a record 752 Mmcf during one 24-hour period.  "This production increase was driven by a coordinated effort to manage field line pressures, rather than new well connections," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "Our infrastructure provider, Williams Partners L.P., recently completed a series of projects and upgrades that improved the pipeline system operating efficiency, allowing for increased production." 

This news comes on the heels of recently released data from the state of Pennsylvania, once again indicating that Cabot is a leader in the state's Marcellus production generation.  "We had 14 of the top 20 producing wells in the first half of 2012," commented Dinges.  "Since the start of our efforts in Pennsylvania our cumulative production has reached 354 billion cubic feet (Bcf) with only 145 producing horizontal wells."

Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading independent natural gas producer, with its entire resource base located in the continental United States.  For additional information, visit

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Posted-In: News Guidance

 

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