Cabot Oil & Gas Corporation Company News
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$8B Pipeline Cancellation Imperils Appalachia Rebound
Friday, July 10, 2020To understand why the cancellation of the $8 billion Atlantic Coast Pipeline was such big news, consider America's most important natural gas-producing region.
Williams, Partners Ditch Constitution Pipeline Plans
Wednesday, February 26, 2020The underlying risk adjusted return for the project has dwindled so much that further development is no longer supported.
Cabot Reducing 2020 Drilling Activity, Capital Spend
Wednesday, February 05, 2020Production continues to outperform, while capex spending is trending down.
Is Chevron's $11B Write-Down an Oilpatch Warning?
Tuesday, January 14, 2020Current market conditions are resulting in many US fracking projects failing to break even.
Cabot Oil And Gas To Sell Eagle Ford Assets Amid Cost-Cut Push
Wednesday, December 20, 2017Cabot Oil & Gas Corp says it will sell its Eagle Ford Shale assets to a unit of Venado Oil & Gas LLC.
Stubborn Natural Gas Supply Imperils Best US Rally in 14 Years
Tuesday, May 10, 2016Natural gas futures have soared since March on speculation that supplies are finally falling after a decade of gains. Production numbers tell a different story.
Report: With Oil Hedges Rolling Off, US Shale Producers Face Stiff Test
Monday, December 14, 2015Cash-strapped U.S. shale oil producers are facing another sharp sell-off in a 18-month-old crude slump with reduced hedging protection, risking a severe hit to earnings if prices fail to recover.
INSIGHT: America's Biggest Gas Field Finally Succumbs to Downturn
Wednesday, December 02, 2015The drilling boom of the past seven years is over, even though thousands of existing wells in the Marcellus region still produce a fifth of US natural gas supply.
Cabot Oil Agrees to Disclose Procedures for Fracking Fluids
Tuesday, February 05, 2013Cabot Oil & Gas agrees to publicly disclose its policy and procedures for handling toxic substances in its hydraulic-fracturing fluids, NY Comptroller Thomas P. DiNapoli says.
Cabot Continues Marcellus Momentum
Thursday, October 25, 2012Cabot announces success in its initial Pearsall effort, continued Marcellus momentum and a breakthrough in long-awaited gathering permits.
EPA OKs Drinking Water near Cabot Drilling Sites
Wednesday, July 25, 2012Cabot announced that the EPA has determined, "that there are not levels of contaminants present that would require additional action by the Agency."
Osaka Subsidiary Buys Stake in Pearsall Shale
Friday, June 22, 2012A wholly-owned U.S. subsidiary of Japan's Osaka Gas Co. will buy a 35% non-operated interest in Pearsall shale acreage from Cabot Oil & Gas for $250 million.
Cabot O&G All Smiles over U.S. Activities
Tuesday, February 21, 2012Cabot O&G provided a recap of recent achievements for the Marcellus, Eagle Ford and Marmaton while discussing the changing market dynamics and the impact on near-term plans for Cabot.
Cabot to Sell Assets in Rocky Mountain
Thursday, July 28, 2011Cabot O&G announced new milestones in its Marcellus operation, well successes in its Eagle Ford position, a discovery in its Marmaton effort in Oklahoma, and an agreement to sell its Rocky Mountain natural gas assets.
Cabot's Marcellus Production Exceeds 400 MMcf/d
Wednesday, May 25, 2011Cabot O&G has surpassed 400 Mmcf per day of production from the Marcellus shale in N.E. Pennsylvania.
Cabot Charges Ahead in US Shale Plays
Thursday, April 28, 2011Cabot O&G announced continued achievement of milestones in the Marcellus, drilling success in the Eagle Ford and agreements in principle for its Haynesville joint venture effort.
Cabot Boosts Production in 2010
Tuesday, February 22, 2011For 2010 equivalent production surpassed the 130 Bcfe level for the first time, establishing a new benchmark for both absolute levels and for year-over-year growth, which totaled 26.8 percent.
Cabot Welcomes Member to Board
Tuesday, February 22, 2011Cabot announced the appointment of Steven W. Lindeman to the position of Vice President, Engineering and Technology.
Cabot O&G Sells Remaining Interest in Canada
Tuesday, November 23, 2010Cabot O&G has sold its remaining investment in Canada for $61.3 million.
Cabot Defends Dimock Water-Quality Issues
Tuesday, October 19, 2010Cabot revealed data showing only four drinking water wells located in Dimock Township, PA have methane in their well water that exceed levels suggested by the U.S. Department of the Interior, Office of Surface Mining.
Eagle Ford Well Delivers for Cabot
Tuesday, October 05, 2010Cabot announced a second successful Eagle Ford well, the Arminius Energy Trust #1 well, from which it recently completed and started producing from.
Cabot Increases Credit Facility to $900MM
Tuesday, October 05, 2010Cabot announced an expansion and extension of its Revolving Credit facility, increasing the line to $900MM from $500MM and established a $1.5B borrowing base.
Cabot Says Co. Not at Fault for Methane Gas Migration
Friday, October 01, 2010Cabot said it does not agree with Pennsylvania Department of Environmental Protection Secretary John Hanger's assertion that Cabot is at fault for methane gas migrating into northeast Pennsylvania water supplies.
Cabot Strengthens Management Team
Thursday, September 02, 2010Cabot announced that G. Kevin Cunningham has been appointed to the position of General Counsel of the Company.
Cabot Ramps Up Marcellus Production
Thursday, July 22, 2010Cabot announced continued positive progress on all fronts, including Pennsylvania, Eagle Ford, and Haynesville shale in east Texas.
Cabot Welcomes New BOD Member
Tuesday, June 15, 2010Cabot announced the election of Mr. James R. Gibbs to its Board of Directors effective immediately.
Cabot's VP of Land, Legal to Retire
Wednesday, May 12, 2010Cabot O&G announced that J. Scott Arnold has elected to retire effective September 1, 2010.
Cabot O&G Drills Success in Eagle Ford Shale
Thursday, April 29, 2010Cabot O&Gas announced a discovery in the oil window of the Eagle Ford Shale, more completions in the Marcellus Shale and a third, best to date, success in the Cotton Valley Taylor Sand.
Cabot O&G Begins Plugging Operations in Susquehanna County
Wednesday, April 28, 2010Cabot O&G provided an update on its efforts to comply with the Modified Consent Order (MCO), along with additional information regarding its business practices as they relate towards the environment, water resources and the citizens of Pennsylvania.
Cabot Oil & Gas Modifies Agreement with Pennsylvania DEP
Thursday, April 15, 2010Cabot Oil & Gas and the Pennsylvania Department of Environmental Protection reached agreement on modifications to a Consent Order concerning certain environmental issues for 14 of the company's wells.
Cabot Oil & Gas Touts Horizontal Haynesville Success
Monday, March 22, 2010Cabot Oil & Gas has completed a successful follow-up horizontal well in the Haynesville Shale at County Line in East Texas.
Cabot Oil & Gas Underscores Third Quarter Results
Tuesday, October 27, 2009Cabot Oil & Gas has reported third quarter net income of $38.9 million, or $0.38 per share. Removing the selected items, the quarter's net income was $42.6 million, or $0.41 per share.
Cabot Makes Headway at Pettet Oil Development
Tuesday, October 27, 2009Cabot Oil & Gas announced that its Pettet oil development in Shelby and St. Augustine counties in east Texas continues to show superior results.
Cabot Offers First Look at Horizontal Haynesville Shale Success
Tuesday, October 27, 2009Cabot Oil & Gas has provided a status update of its Marcellus development in Susquehanna County, Pennsylvania, along with its first look at a horizontal Haynesville shale success in its County Line field in east Texas.
Cabot O&G Completes New $500MM Credit Facility
Monday, April 27, 2009Cabot Oil & Gas announced the completion of a new $500 million unsecured Revolving Credit Facility with a three-year term.
Cabot to Sell Canadian Operations for Combination of Cash, Stock
Tuesday, April 14, 2009Cabot Oil & Gas Corporation announced today a definitive agreement to sell its Canadian operations to a private Canadian company for a combination of cash and stock.
Cabot Holds Steady in Pennsylvania, Marcellus Project Producing 13 MMcf/d
Monday, December 08, 2008Cabot has announced that its Marcellus initiative in northeastern Pennsylvania is gaining momentum and is currently producing over 13 Mmcfe per day.
Cabot Names Best Director
Tuesday, July 22, 2008Cabot Oil & Gas has announced the election of Rhys J. Best to its Board of Directors effective immediately. Best has previously been CEO of Lone Star Technologies, which was recently acquired by US Steel.
Cabot Oil & Gas Announces Shares of Common Stock
Wednesday, June 18, 2008Cabot Oil & Gas intends to publicly offer 3,600,000 shares of its common stock. Proceeds of the offering are expected to partially fund the purchase price of the recently announced property acquisition in East Texas.
Cabot Oil & Gas Buy East Texas Assets for $602.8 MM
Thursday, June 05, 2008Cabot Oil & Gas Corporation has executed a definitive agreement to acquire producing properties, leasehold acreage and a gathering infrastructure from a private party for $602.8 million.
Cabot Oil & Gas Announces Success at County Line and Hinton
Friday, March 14, 2008Cabot Oil & Gas Corporation announced early successes from its 2008 drilling program with positive results at County Line, Hinton and the Moxa Arch.
Cabot's Field Production Up to 40 Mmcf/d
Thursday, February 14, 2008The Company's north to south producing well extent at County Line covers 12 miles with several more miles yet to be exploited on its 26,000-acre position. The Company estimates that in this 12 mile area, it has 100-110 undrilled locations.
Hedge Position Expanded for Cabot
Thursday, February 14, 2008Cabot Oil and Gas recently took advantage of the natural gas market's strength to expand its 2008 hedge position and initiate a 2009 position.
Cabot Gains Net Income of $167.4 Million for 2007
Thursday, February 14, 2008This compares to net income of $321.2 million, or $3.32 per share for 2006 full year. Net income in 2006 included a significant gain ($145.1 million after-tax) on the sale of assets.
Cabot Oil & Gas Declares Dividend
Thursday, January 24, 2008Cabot Oil & Gas Corporation reported that its Board of Directors declared a regular dividend of three cents ($0.03) per share on the Company's common stock.
Cabot Continues to See Success from Horizontal Drilling Program
Thursday, November 15, 2007Cabot Oil & Gas reports additional horizontal drilling success at its County Line project in east Texas, along with news on horizontal drilling from its shale program in West Virginia.
Cabot Reports Third Quarter Results
Friday, October 26, 2007Cabot says its third quarter results compare favorably to its historical third quarter outcomes.
Cabot Continues County Line Success
Friday, October 26, 2007Cabot Oil & Gas reports another successful horizontal James well at County Line in east Texas.
Cabot Oil & Gas Sees Continued Success at County Line
Wednesday, October 03, 2007Cabot Oil & Gas sees success in its recently completed Timberstar Forbis #1 well (100% working interest), which had a 5,860' horizontal leg in the James Lime formation with an eight-stage frac.
Cabot Extends Success in East Texas Program
Thursday, September 20, 2007Cabot has completed transactions with two major oil companies in its east Texas operating area that provide opportunities on an incremental 44,000 gross acres.