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Cabot Reports Success in Marcellus

Source: www.gulfoilandgas.com 4/25/2012, Location: North America

Cabot Oil & Gas Corporation announced the successful commencement of Marcellus production in its 7-mile step-out to the east at the Zick well pad.

Marcellus Production Update: Late in the first quarter, Cabot commenced free-flowing Marcellus gas in the Zick area that represents a 7-mile step-out to the east from the nearest production. The five wells averaged 78 million cubic feet (Mmcf) per day for the last 20 days. "The results of these wells have de-risked another substantial portion of our acreage position in Susquehanna," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "If there was concern about the productivity of our eastern acreage, those concerns should be mitigated. The five wells were completed in 92 frac stages and will have additional productive capacity once compression is operational."

Also in the Marcellus during the first quarter, a two-well pad site with longer laterals was completed resulting in a 30-day average production level of 40 Mmcf per day. The wells were drilled with 4,500' and 5,000' laterals and completed with 19 and 21 frac stages, respectively. "The results from these completions indicate the efficiency to be gained with longer laterals," commented Dinges. "This is simply another example of the productivity and additional opportunities on our acreage."

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