Subscribe to Blog ContentCabot Oil and Gas' first horizontal drill in Haynesville shale in East Texas and Northwest Louisiana in St. Augustine County is producing 19 million cubic feet per day (MMcfpd). The process took 14 stages for the 4,487-foot horizontal leg. Cabot has 69 percent working interest in this site.
The oil and gas company also expects to have news to report in the second quarter regarding three wells in which the company is participating. Cabot plans to add 12 more wells this year in Haynesville with 7 percent to 52 percent working interest. The company also has drills in Marcellus shale play.
This much welcome good news for the Houston-based natural gas producer comes at an opportune time. The company has a drill site under investigation by Pennsylvania's Department of Environmental Protection, which is looking into a leak from a catch basin at the Hibbard site. Supposedly, the spilled liquid came from a leaky plastic liner an on-site wastewater pit.
Moreover, Cabot has been dealing with the Division of Natural Resources (DNR), which has rejecting all drilling applications for West Virginia state parks. A judge has ruled that Cabot may drill in Chief Logan State Park, and it could affect other state parks, if the ruling stands. DNR is working with other organizations to file an appeal with the Supreme Court.
On April 28, Cabot Oil and Gas will announce its first quarter earnings in a conference call with analysts, investors and others interested. Visit www.cabotog.com for more information about the call or to listen to a replay after April 28.
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