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Noble To Suspend Marcellus Drilling; Completions To Continue
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Noble talked about its plans for Marcellus operations with joint venture partner CONSOL energy.
During the Q2 earnings call, the company said: "Finally in the Marcellus Shale, our operations continue to improve. Our drilling teams are performing extremely well and we drilled our longest lateral ever as a company in the second quarter, nearly 14,000-foot horizontally. In addition, we're looking forward to production results from our first Utica well before the end of the year.
Given the price environment, we're further reducing drilling activity in the basin in alignment with our joint venture partner. In the middle part of the third quarter, operated horizontal drilling will be reduced to zero rigs for the remainder of the year. And on the dry gas non-operated side, we anticipate going from two horizontal rigs to zero early in the fourth quarter.
These shifts in drilling do not impact our completion schedule for the remainder of 2015 and we are working with our partner on the right level of investment for 2016 with both companies focused on a cash-neutral program for the JV next year."
To learn more about Noble's ops in the marcellus, hop over to our Presentation Manager:
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