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Cabot Focuses on Pad Drilling in 2Q; Eagle Ford, Marcellus
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Cabot Oil & Gas Corporation reported its financial and operating results for the second quarter of 2015.
Dan O. Dinges, Chairman, President and Chief Executive Officer, said: "Despite our strategic decision to curtail Marcellus volumes in the second quarter due to the adverse price environment, Cabot still generated production growth and reduced unit costs year-over-year. Our top-tier Marcellus asset affords us the ability to reduce our gross production volumes by approximately 500 million cubic feet (Mmcf) per day and still report positive normalized results."
Cabot drilled or participated in a total of 78 net wells during the six-month period ended June 30, 2015 and incurred a total of $540.4 million in capital expenditures associated with activity during this period.
Dinges adds: "Over…
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