Cabot presents at EnerCom’s The Oil & Gas Conference®
Cabot Oil & Gas (ticker: COG) is an exploration and production company headquartered in Houston, Texas. Cabot in Q2 2018 closed on the sale of its oil and gas properties in the Haynesville Shale for net proceeds of $29.2 million, making Cabot a pure play natural gas producer focused on the Marcellus.
Q2 highlights
- Daily equivalent production of 1,895 MMcfe/d
- Adjusted net income of $57.9 million
- Net cash provided by operating activities of $273.9 million
- Discretionary cash flow of $196.5 million
- Returned $239.6 million of capital to shareholders through dividends and share repurchases
- Improved operating expenses per unit by eight percent YOY
- Cabot is currently operating three rigs and two completion crews in the Marcellus Shale and plans to place 37.0 net wells on production in conjunction with the anticipated in-service of the Atlantic Sunrise pipeline project during the second-half of 2018.
Breakout session at the EnerCom conference
During Cabot’s breakout session at the 2018 EnerCom conference, management was asked the following questions:
- How many operating wells do you have in the Marcellus?
- What are your main types of methods for extraction in the Marcellus?
- Exit strategy for end of year in 2018?
- Does your inventory on the presentation include all areas in the Marcellus?
- What was the decision process on not developing the original wells in the Marcellus?
- On long term production costs, what are your thoughts about the long term production and takeaway for the remainder of 2018?
- In the Utica Hess package, how is A&D?
- On the power plants, how much of an uplift are you getting off of those?
- On well productivity, is there any upside availability on productivity in those new wells?
- What kind of transit on oil costs are you seeing in the northeast?
- How long are the laterals drilled in the Marcellus for 2018?
- When will the CapEx be released for 2018?
- How much of the upper Marcellus will be involved in 2019 production?
- Based on your inventory, do you have a target for when you want production to play out?
- Will you have a go or no go on the second portions of the Marcellus this year?
You can listen to Cabot’s presentation here.
