Cabot plans 85 wells in Marcellus shale in 2018

Cabot Oil & Gas Corp. expects to average three rigs and two completion crews in the Marcellus shale during 2018, resulting in 85 net wells drilled and 95 net wells completed. Cabot has about 179,000 net acres in the dry gas window of the Marcellus shale, primarily in Susquehanna County, Pa., with two rigs running.  […]

MARKET WATCH: NYMEX crude oil jumps more than $1/bbl

Light, sweet crude prices on the New York market closed slightly more than $1/bbl higher Feb. 22 after the US Energy Information Administration reported crude oil supplies, excluding the Strategic Petroleum Reserve, fell by 1.6 million bbl last week. Source: News

Chesapeake plans 3% total production rise in 2018

With a projected 2018 capital expenditures program of $1.975-2.375 billion and adjusted for asset sales, Chesapeake Energy Corp., Oklahoma City, expects total 2018 production to increase 3% year-over-year and oil volumes to rise 5% compared with 2017 levels. Source: News

Anadarko further advances Mozambique LNG project

Anadarko Petroleum Corp. reported that Mozambique LNG1 Co. Pte. Ltd.—the jointly owned sales entity of the Mozambique Area 1 Lda. coventurers—has entered into a long-term LNG sale and purchase agreement with Electricite de France SA. The offtake agreement calls for the supply of 1.2 million tonnes/year of LNG to EDF over 15 years. Source: […]