Landowners Advised to Hold Out on Cabot Lease Offers
From Farm and Dairy:
As landowners in the Ashland-Holmes-Wayne County area await official production results from exploratory wells drilled by Cabot Oil and Gas, attorneys for the landowners say it also makes sense to wait before signing any new lease agreements.
A group of approximately 50 area farmers and landowners, many whom are part of the Mohican Basin Landowners Association, met in the basement of a church Dec. 13 for an update on drilling and leasing activity.
Houston-based Cabot Oil and Gas has drilled two test wells in the area, with plans for several more, through a sublease agreement with TransCanada, the company that owns many of the old Columbia Gas leases in the area.
Over the past couple years, Cabot has had representatives in the area, seeking signatures from landowners that would amend and ratify existing leases, allowing Cabot to perform horizontal fracturing of wells that go beneath the Utica Shale formation.Read more of this article by clicking here.