BRIDGEWATER TOWNSHIP -- After ten years of drilling for natural gas in Susquehanna County, Cabot Oil and Gas Company announced property owners have received more than $1 billion in royalties in Susquehanna County.
Officials made the announcement in front of residents and employees at Cabot's center just outside of Montrose.
“We can't be successful without a partnership with them and we want to make sure we took the time sat with them had the opportunity to have a conversation,” George Stark, Cabot Oil and Gas Corporation.
Cabot officials tell Newswatch 16 they noticed they were close to the billion dollar milestone a couple of months ago.
They've already drilled 3 trillion cubic feet of gas and are planning to drill for more gas in the future.
“The opportunity we see here is growth and it`s finding the right employees and putting them to work and the biggest challenge we have here is getting all the gas out of the count,” said Stark.
Cabot Oil and Gas Company plans to continue drilling for the next 30 years. Susquehanna County Residents say this is good news for the communities that they work and live in.
“It’s overwhelming. Our township, we have been able to remodel our buildings and put new roofs and put a new playground in and a new walking trail,” said Dennis Bunnell of Jessup Township
Dennis Bunnell and his wife Janice live in Jessup Township and get royalties for allowing Cabot to drill on their land. Dennis tells Newswatch 16 his family has benefited from the drilling.
They hope this news from Cabot brings more jobs to and gets people to stay in Susquehanna County.
“This was a godsend for the township for the area for the county I am pretty partial to my township,” said Bunnell.