Cabot Oil & Gas recently put up assets for sale in 3 Marcellus Shale states, New York, Pennsylvania, and West Virginia, for a total of 29,349 net acres in the play. The New York acreage is 4,707 gross and net acres with an average 80% NRI. This acreage is located in the southeastern part of the state in Sullivan County and is close proximity to the Millennium Pipeline which is a 182-mile, 30-inch pipeline that extends from Steuben County, NY to Buena Vista in Rockland County, NY.
The Pennsylvania acreage is 11,885 gross acres, 11,797 net, with an average 83% NRI and is located in the northeastern part of the state in Wayne County, PA. This acreage has El Paso’s Tennessee Pipeline running through it which runs from the Mexican border to Canada. Both the Pennsylvania and New York acreage produce dry pipeline quality gas.
Cabot retained The Oil & Gas Asset Clearinghouse to sell their Marcellus assets and the following map is from the marketing flyer for the deal and is of the Pennsylvania and New York acreage.
The West Virginia acreage is in Braxton and Webster Counties, WV and is 14,467 gross acres, 1,845 net, with an average NRI of 80%. The acreage has the Regional Columbia pipeline running through it and is close to Cleveland, WV. The area that the acreage is in is producing high BTU gas. The following is another map from The Oil & Gas Asset Clearinghouse’s marketing flyer of Cabot’s West Virginia acreage.
The sale of these Marcellus assets suggests that Cabot is narrowing their focus on other parts of the play. We can see in the following map of Cabot’s Pennsylvania permits in the last 365 days that the majority of their Marcellus activity is in Susquehanna County.
Coming soon: DI Energy Strategy Partners will be releasing the Acquisition and Divestiture Pipeline which will include these types of deals and links to information regarding each deal.
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