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At a recent luncheon held at their corporate headquarters in Dimock, Susquehanna County, officials of Cabot Oil & Gas Corp. announced that since 2006 it has paid $1 billion in royalties to landowners in Susquehanna County from its production of natural gas from the Marcellus Shale. In addition, landowners received a total of $417 million for gas lease signing bonuses.
 
B.J. Cline, the Divisional Superintendent of Cabot, said the company has 557 wells in the county that have produced 3 trillion cubic feet of natural gas. He added the company hasn’t “even scratched the surface” in its production.

George Stark, who has been the spokesman for Cabot in Susquehanna County for most of the 10 years, said as pipeline construction continues in the county, he believes it won’t take ten years to reach the next billion dollar in payments to the leaseholders.

County Commissioner Alan Hall pointed to the Act 13 Natural Gas Impact fees that have flowed into the municipalities in this County. He credited the Impact fees to Susq. County government alone with providing $5 million in property tax relief relief to county property owners, as well as providing the funds for the Courthouse expansion and modernization without having to raise taxes.

Cabot also took credit for its millions of dollars in community contributions for such projects as the Endless Mountains Health System facility which received $4.4 million, and the Lackawanna College School of Petroleum & Natural Gas, at the New Milford exit of I81, which was given a $2.5 million endowment. Over $6 million, he said, went to various other community organizations and projects in the County.

Susq. County Economic Development Director Tony Ventello also stressed the impact to business which Cabot and the other gas companies provided thru its purchases of goods and services in the county. It was also pointed out that the gas money has allowed farms, which were in families for generations, to stay in the families instead of being split up or sold off.

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