From the Marcellus Drilling News:
Another post from energy analyst Richard Zeits on the Seeking Alpha website—this time about the tremendous amount of natural gas Cabot Oil & Gas is mining in Susquehanna County, PA. Zeits says the gas Cabot is finding and selling “may be material to the U.S. supply.” You read that right. One “little” oil and gas driller’s efforts in rural Susquehanna County, PA may well end up influencing the entire U.S. energy picture.
Full of charts and maps and oodles of great information, here’s a small portion of Zeits’ analysis, a prediction for how long Cabot will be drilling in Susquehanna County, and how many wells they’ll end up drilling there:
Cabot mentioned that it sees at least 3,000 future drilling locations on its “couple of hundred thousand acres” in Susquehanna County. The location count includes staggered wells, at least on a portion of the acreage, with laterals landed in the Lower Marcellus and the Upper Marcellus and separated by 500 feet (a pilot well pair drilled by Cabot in 2012 has so far shown positive results).
Cabot will also test down-space opportunities in the lower Marcellus.
Even assuming that a high-graded inventory of most economic drilling locations would include only half of the 3,000 potential wells mentioned by Cabot, it would still take the company over a decade to fully develop the acreage, assuming rig count ramping up to ten rigs in four years.*
Read the rest of this don’t-miss-it article by clicking on the link below.
*Seeking Alpha/Richard Zeits (Feb 25, 2013) – Marcellus Shale: Giant Well Parade In Susquehanna County