COG
#Let's see.
We will put that number out in October.
But it probably, <UNK>, it would be probably be about 50%, 60% higher than where the guidance is this year.
The duck count we anticipate at year end is approximately 15 wells in the Eagle Ford, and 30 to 35 wells in Pennsylvania.
Not really.
We have been ---+ we were forced curtail by virtue of the unscheduled downtime.
But our analysis, including the volumes for Cabot, it is our analysis that the gas that can move up there is moving, not only by us, but our peers.
And we think that the day of the curtailed volumes is behind us.
Thanks, <UNK>.
Hello, <UNK>.
We would have to build upon that, <UNK>.
We have, again, the ramp-up into that infrastructure will start with our 2017 capital program.
And, again, a swag number and it is anywhere from the [$650 million] to [$675 million] for 2017 as a swag number.
And then as we go into 2018, I do plan on putting out a little bit more forward-looking statements in either October or November of what we see building into that infrastructure buildout.
I probably would not get granular with numbers on capital at all in 2018 at that time.
But I do plan on and we will have a discussion on how much of a look do we want to give of what we look ---+ and our comfort level of our 5-year plan.
And with that, I think that would give the market a great deal of comfort on what Cabot is going to be able to do to deliver value.
And some of this, what you do need to keep in mind, something different than where we are in 2016.
We stripped out of 2016 our investment capital, pipeline investment capital, out of 2016.
And we have that number that I'm giving you out there as a swag of $650 million to $675 million, we have in that number plus or minus $125 million of that investment capital back in the 2017 capital number.
For the pipelines, that's right.
So it is a risk of throwing numbers out here, because I'm not being granular on it.
But I don't want it to be confused that we are not including the investment capital in that number I threw out.
Yes, it is.
You're accurate.
It is a ---+ it was discussed early on trying to get the budget approved.
But it is not a topic of conversation at this time.
Thanks, <UNK>.
I don't have that number handy.
And we have slides that show a percentage or efficiency gains through the process, and <UNK> had showed some of that to the Board.
And some of it was the example where we are on the quarter on more rapid penetration rates, and running pipe, and spud to spud moves.
But I don't have it in the form you're asking.
Well we are looking at that right now.
It is part of forming our buildout of our plan in the fourth quarter of 2016, and how we finalize our recommendation to the Board in October for our 2017 program.
So we are just ---+ we are looking at the utilization of that crew for the entire second quarter, but I thought it was prudent to represent that at this stage that it's for a portion of the quarter.
Thanks, <UNK>.
Hey, <UNK>.
You noted in your most recent presentations that you added 15% more locations with recent spacing tests.
I was just wondering is this effort more or less complete, or are you still testing down spacing in the Marcellus.
We will continue to test not only how tight we can get locations, and <UNK> has a couple of downspace opportunities or wells that we look at.
But we will also continue to explore with the both stage loading and spaces and spacing between clusters as part of our efforts to see how we can enhance the program.
One of the July period for Cabot at our Board meetings is the opportunity for our geologists to stand before the Board and talk about our exploration projects ideas that we have.
And we do have some, and we did present several to our Board on Wednesday.
But one of the things also the technical group has done in the north is taking a step back.
And we have a huge database, as you can surmise, and look at the entire space and determine what we might do different with a blank piece of paper, starting over, to try to look at all the different aspects.
All the way from the landing areas, steering, penetration rates, how we initiate fracs, how we bring back the wells.
All of that is being scrutinized in a project orientated fashion that I imagine <UNK> would come back and discuss at a later date.
<UNK>, do you want to make any ---+ .
Our guys are doing a great job.
And like <UNK> said, we are looking at every aspect of it.
So stage spacing, clusters, number of clusters, landing points, challenges breaking down each component of the reservoirs.
So again, it is an ongoing effort here to continue to optimize our potential out there.
And one of the things also is not only looking at the upper Marcellus and all the way through the Purcell, lower Marcellus, but the complexity of the geology.
Looking at the relationship to production profiles within some of the proximity to some of the larger faulting systems, and also looking at a couple of different zones in the section that we think hold for what I would couch today as exploratory promise.
Well the Utica is certainly out there, and my reference was from an exploratory standpoint and the data that we have.
And actually, the shallower section above the Marcellus is an area that we have significant data points that we think holds the potential I was specifically referring to.
But certainly, the Utica is the deeper section.
I don't have that yet, <UNK>.
I would say it is probably going to be between 10 and 15 wells.
We have a little bit of scramble looking at the piece of paper that might have that on there, but my guess is going to be 10 to 15 wells.
<UNK>, I just got it pointed to me.
The number is 11.
I will let <UNK> answer that.
Yes, so we have ---+ let me back up.
We watch this very closely, of course, and we are very comfortable with where we stand with the permitting process and the regulatory process.
So we are content that the project is moving forward, and excited that it is moving forward and has an in-service opportunity late 2017.
That said, we do have plan B and plan C and plan D to move volumes in different directions and to different places to ---+ or should I say, just in case that the project is delayed a month or three months or something to that extent.
So it probably wouldn't be able to find a home in day one for 850,000 a day to the premium markets.
But we would be able to adjust to that based on the deadline that we would see if was delayed.
I think it is a good question, <UNK>.
And it is one that we try to plan the contingencies around, and certainly we have had an ongoing education and effort doing that by virtue of the delays that we have seen with the New York DEC and Constitution.
Thanks, <UNK>.
All right, Erickson, I don't have any additional remarks, but just to reemphasize that we are extremely pleased with the operational side of our program.
We are building into the infrastructure buildout, starting the early stages of some excitement about seeing some tangible results in that area.
And I think it is going to be fun for our operating group to now diligently start being able to use their talents, secure the services and equipment, and start a very diligent process in building these significant volumes.
If you look out there in the space, I don't know of any other company that has an opportunity and the rock to be able ---+ and the balance sheet to be able to grow production, double production, in the next couple of years.
And have the benefits its shareholders as Cabot does.
So thank you for your interest, and we are excited about presenting our 5-year plan to our Board in October and we do anticipate offering maybe a little bit more color either in October or February.
We haven't made that call, of a little bit longer outlook, for what Cabot has to offer.
So thanks again, and look forward to the next quarterly call.
