Cabot Oil & Gas – Day One Breakout Notes

Scott Schroeder, Vice President and CFO of Cabot Oil & Gas (COG), presented today at EnerCom’s The Oil & Gas Conference® 17. Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation, and exploration of oil and gas properties exclusively in the continental United States. Cabot continues to refine its operating focus, narrowing its natural gas development to the Marcellus shale in northeast Pennsylvania and its oil development effort to the Eagle Ford shale in South Texas and the Marmaton, in the Oklahoma and Texas Panhandle. Approximately 96% of Cabot’s reserves and 95% of Cabot’s production is natural gas.

During the company’s breakout session, management was asked the following questions:

• Are additional recoveries from a well included in your well costs?
• You said you have excess capacity on the compression side coming into 2013, is there any further information about the timing of that capacity? Where would you say during the year do you max out in excess capacity?
• What’s your view on the gas macro, and also on hedging if the gas market is getting a lot stronger?
• If you take a top down view of your company of the unit cost and production growth, how do we think as investors that the two don’t match, over time those two should at least move in the same direction?
• Could you expand on the macro with regards to the Appalachian region, where you see production going from that region, and how that affects your marketing analysis in the long term?
• Is Appalachian going to 5 Bcf per day and what does that mean?
• Where are you going as a company over time, what is the rate of return, and how fast can you drill?
• It looks like service costs are starting to decrease, what are you seeing across the different regions and was that an impact with you taking on more rigs?
• Do you see moving less towards stages and more towards pinpoint fracturing?
• Looking at Pearsall, what data do you have, was it just the Cheyenne logs?

Click here for the Cabot Oil & Gas webcast.

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