Cabot Oil & Gas (COG) reported that production from the company’s Marcellus Shale properties have reached a new record of 606 million cubic feet per day in a recent twenty four hour period. Production averaged 600 million cubic feet per day during the final two days of 2011.
Cabot Oil & Gas said that the company’s production exit rate for 2011 was 154% above the 2010 production exit rate of 236 million cubic feet per day in the Marcellus Shale.
Cabot Oil & Gas said that total compression capacity has now reached 650 million cubic feet per day as the Teel facility upgrade is now complete. The company also said that the Springville Pipeline has started operations and first deliveries are expected on January 5, 2012.