Cabot Oil & Gas Corporation (NYSE:COG) today announced that its production from the Marcellus Shale in Susquehanna County, Pennsylvania has returned to pre-disruption levels. This follows the restart of the Lathrop Compressor Station, which was damaged by fire on March 29th. Currently six compressor units are operational and the seventh is scheduled to start up next week. Building repairs are also slated to be complete next week.
"We are extremely pleased with this news and our ability to return to previous production levels in less than one week," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "We commend Williams and all of their personnel for the monumental effort to resolve this matter in a prudent and expeditious manner." Dinges added, "We estimate that this disruption deferred only about 1 Bcf of natural gas production in total, clearly a minor impact to the year."
Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading independent natural gas producer with its entire resource base located in the continental United States. For additional information, visit the Company's Internet homepage at www.cabotog.com.
The statements regarding future financial performance and results and the other statements which are not historical facts contained in this press release are forward-looking statements that involve risks and uncertainties, including, but not limited to, market factors, the market price of natural gas and oil, results of future drilling and marketing activity, future production and costs, and other factors detailed in the Company's Securities and Exchange Commission filings.
Source: Cabot Oil & Gas
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