Cabot plans to drill 85 wells in Marcellus shale
Tuesday, March 13, 2018
This year Cabot Oil & Gas Corp. expects to average three rigs and two completion crews in the Marcellus shale, resulting in 85 net wells drilled and 95 completed, according to Oil & Gas Journal.
The company’s Marcellus assets include 179,000 acres in the dry gas window, located primarily in Susquehanna County, Pa., with two rigs running.
Cabot’s 2018 Marcellus shale drilling program features average lateral lengths of 8,300 feet and an expected average well cost of $8.3 million for drilling, completion and facilities. It also updated its $950 million capital budget for 2018, which includes $800 million for Marcellus shale operations.
Learn more: Oil & Gas Journal > Cabot plans 85 wells in Marcellus shale in 2018
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.