Good news seems to keep pouring in for Pennsylvania’s shale drillers. Last week, Cabot Oil and Gas reported record production volumes and earnings for 2012.
Speaking at a hearing in Philadelphia City Council Wednesday afternoon, David Yoxheimer, from the Marcellus Center for Outreach and Research, says Marcellus wells produced 2 trillion cubic feet of natural gas in 2012, representing 10 percent of the nation’s annual demand. And this afternoon, the Pittsburgh Post-Gazette reports on how Range Resources did last year.
“During the fourth quarter, the Southern Marcellus Shale Division brought 30 horizontal wells online alone, taking advantage of the liquid-rich area of southwest Pennsylvania. An additional eight wells were drilled and cased in the northeast Marcellus during the fourth quarter. The company met its year-end production target of 600 Mmcfe per day. Range Resources had a total of $1.5 billion in revenue for the year, marking an 18 percent increase over 2011.”
Meanwhile, Range continues to take an aggressive stance toward critics and lawsuits. The Pittsburgh Tribune-Review reports that the drilling company has asked a Washington County judge to recuse himself because Range says the judge’s wife is an anti-drilling activist.