Cabot plans to increase Marcellus production
Monday, November 6, 2017
Cabot Oil and Gas plans to operate three rigs and two completion crews in the Marcellus Shale in 2018, according to Kallanish Energy.
The company plans to invest $1.5 billion in capital spending next year, with $750 to $850 million going to the Marcellus Shale. It is projecting growth of 27 to 33 percent in the Marcellus Shale next year.
Cabot’s net income was $17.6 million in the third quarter, compared to a net loss of $10.3 million in the same quarter a year ago.
Learn more: Kallanish Energy > Cabot aiming for big jump in Marcellus production
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