Since the inception of Cabot’s horizontal drilling program in 2008, the Company’s Marcellus Shale position in northeast Pennsylvania has developed into the cornerstone asset of its portfolio and has been the primary driver of record production and reserve growth during this period.
Cabot was the second largest producer in Pennsylvania during 2015. In terms of productivity, we continue to drill the most prolific wells in the state which was evident by Cabot having 18 of the top 20 wells drilled since 2012, measured by cumulative production by the Pennsylvania Department of Environmental Protection. The Company plans to drill approximately 25 net wells in the Marcellus Shale during 2016, with approximately 70% of the Company’s capital program allocated to the area.
Cabot has approximately 200,000 net acres in the dry gas window of the Marcellus Shale, primarily in Susquehanna County, Pennsylvania. Cabot’s Marcellus Shale properties accounted for 92% of the Company’s proved reserves and 90% of the Company’s total net production as of year-end 2015.