adavuxuf.wordpress.com
a Houston-based energy firm, is makingt Pittsburgh its base for a growing operation in the Marcellus Shale natural gas Thoughits 160,000-acre Marcellus leasehold is in and around Susquehannwa County in the northeast part of the western Pennsylvania will be its regionaol center, the company announced. “Pittsburgh has kind of becom the Marcelluscompany capital, so to said CFO Scott Schroeder. “It doesn’t make sense to be an He added that Cabot already is familiar with the Steel City, where it had an office untilp 1997, when it sold its Pennsylvania land and moved to W.Va.
The regional energy hub makes senswe from abusiness standpoint, said Lou executive director of the Independent Oil and Gas Associationn of Pennsylvania. “Dealing with various company with meetingswe have, industry groups, seminarx — there’s a lot of good reasons to be in the same he said. In announcing the move, Cabot said it will closre its regional officesin Charleston, and Denver, and manage all Pennsylvania, West Virginia and Rockt Mountain assets from here. The move indicates where the company intendx its future capital willbe spent.
In April, Cabo t announced it was sellingt its Canadian operationfor $72 millionb in cash and $68 million in new Schroeder said the firm is actively pursuing more acreagr around its Susquehanna leasehold, but not in the western part of the The company has around 30 wells in the Marcellusx Shale in Pennsylvania. It has drilled eight horizontal wells in that area and completerd fourof them. As for officd space, he said Cabot has identified a desired spot in thePittsburgh region, but declined to name it until the officr space is secured.
Schroeder said the branch’se technical staff of around 40 engineers andgeologists — 25 are beingb asked to relocate from West Virginia and 10 to 15 from Coloradko — will be in their new quarters by the end of
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment