Cabot Oil and Gas (COG) reported earnings for the first quarter of 2010, and held a conference call to discuss the results. The company provided an update on its operations in the Haynesville Shale.
Cabot Oil and Gas recently drilled its first horizontal well in the Haynesville Shale, and is drilling its second well. The company is focused mostly on the Cotton Valley Sand formation.
“In the Haynesville as previously announced Cabot has successfully drilled and completed its first Haynesville well. The King number one which we had 69% working interest was drilled to a depth of 18,364 feet and a lateral of 4487 after 14-stage stimulation the well tested as we previously reported at 19 million per day and a new data point for us is its 30 day average of 15.2 million cubic foot per day.”
“Drilling operations are underway on our second operated well, the long, the Walters No 1, we have 54% in this well and Cabot is also participating in three outside operated wells that are currently drilling with working interest between 20% and 41%.”
Source: Seeking Alpha