This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cabot Oil & Gas Corporation Provides Operations Update, Announces Share Repurchases And Sale Of Conventional Mid-Continent Properties

HOUSTON, Dec. 9, 2013 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today 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:

Upper Marcellus De-Risking

Two Upper Marcellus wells were completed on the pad with a total of 37 frac stages with an initial production (IP) rate of 32 Mmcf per day and a 30-day production rate of 24 Mmcf per day. These wells were spaced 1,000' apart in the Upper Marcellus and were offset 500' by a Lower Marcellus well. "We continue to monitor these wells to evaluate the productivity of the Upper Marcellus; however, based on the results to date, we continue to believe that the Upper Marcellus across our acreage position will provide rates of return that rival or exceed most unconventional resource plays," explained Dinges.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs