Exploration & Production | Top Story | Deals - Acquisition, Mergers, Divestitures
Cabot Plans More Eagle Ford Rigs In 3Q14; Acquires Acreage
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Cabot Oil and Gas provided the following operation update on it's Q1 Eagle Ford Shale drilling.
"Moving to the Eagle Ford, we also have good news to report in that area. We completed our first six-well pad at the beginning of this month and have been very impressed with the results. The six wells had an average completed lateral link of about 6,700 feet and were completed with an average of 25 stages. The wells achieved an average peak 24-hour IP rate of 1,045 Boe per day per well with an 89% oil cut. As a result of the continued drilling and completion efficiencies associated with our pad drilling efforts, we realized approximately $600,000 of cost savings per well.
"As a result of the improvements our team has made both on the production side as well as the cost side, we have decided to…
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