Thursday, December 23, 2010

Susquehanna County, PA: Marcellus Shale Update

By Andrea:

Williams Partners L.P. (WPZ) announced that it has completed the acquisition of Cabot Oil & Gas Corporation's (COG) midstream assets in the Marcellus Shale located Susquehanna County, Pa., for $150 million.

The assets include approximately 75 miles of gathering pipelines and two compressor stations that are currently gathering approximately 230-240 million cubic feet per day (MMcf/d) of Cabot's natural gas production.

The partnership has also agreed to a new long-term dedicated gathering agreement with Cabot for its production in the northeast Pennsylvania area of the Marcellus Shale. The 25-year agreement covers an area of mutual interest that currently includes approximately 138,000 net acres.

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