On October 1, 2009
Spudding Restart in Pennsylvania Key to Cabot Oil & Gas Success
Cabot Oil & Gas reported in a press release it is temporarily halting hydraulic “fracking” operations at eight drilling sites located in a section of its Marcellus shale leaseholds in Susquehanna County, Pennsylvania on the orders of the state Department of Environmental Protection: three spills of a liquid-gel lubricant within seven days. This accident is but the latest in a string of environmental incidents connected to the natural gas producer’s drilling in the area. Do resultant delays in drilling raise the risk that depletion rates will exceed proven reserve additions this year? Hydraulic fracturing is a process where fluids and other components are injected into a steel boring under high pressure to force the release of oil or gas…
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