Last $33.42 USD
Change Today -0.78 / -2.28%
Volume 3.9M
As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

cabot oil & gas corp (COG) Key Developments

Cabot Oil & Gas Corporation Presents at Bank of America 2014 Global Energy Conference, Nov-13-2014 03:35 PM

Cabot Oil & Gas Corporation Presents at Bank of America 2014 Global Energy Conference, Nov-13-2014 03:35 PM. Venue: The Fontainebleau Miami Beach, 4441 Collins Ave, Miami, Florida, United States. Speakers: Dan O. Dinges, Chairman, Chief Executive Officer, President and Member of Executive Committee.

Cabot Oil & Gas Corporation Announces Unaudited Consolidated Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014; Reaffirms Production and CapEx Guidance for Year 2015

Cabot Oil & Gas Corporation announced unaudited consolidated earnings and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue of $512,017,000 against $435,850,000 a year ago. Income from operations was $190,341,000 against $131,810,000 a year ago. Income before income taxes was $172,919,000 against $115,736,000 a year ago. Net income was $100,788,000 against $69,889,000 a year ago. Earnings per basic share were $0.24 against $0.17 a year ago. Net cash provided by operations was $358,302,000 against $276,709,000 a year ago. Capital expenditures were $347,128,000 against $319,344,000 a year ago. Excluding the effect of selected items (detailed in the table below), net income was $85.0 million, or $0.20 per share, in the third quarter of 2014, compared to $74.6 million, or $0.18 per share, in the third quarter of 2013. For the nine months, the company reported total revenue of $1,555,007,000 against $1,258,815,000 a year ago. Income from operations was $595,479,000 against $383,896,000 a year ago. Income before income taxes was $545,167,000 against $334,530,000 a year ago. Net income was $326,239,000 against $201,827,000 a year ago. Earnings per basic share were $0.78 against $0.48 a year ago. Net cash provided by operations was $943,250,000 against $766,676,000 a year ago. Capital expenditures were $964,741,000 against $843,400,000 a year ago. Net Debt as at Sep. 30, 2014 was $1,302,013,000. Excluding the effect of selected items (detailed in the table below), net income was $310.0 million, or $0.74 per share, compared to $223.8 million, or $0.53 per share, for the nine-month period ended September 30, 2013. Equivalent production in the third quarter of 2014 was 132.4 Bcfe, consisting of 126.7 billion cubic feet (Bcf) of natural gas and 961,000 Bbls of liquids. These figures represent increases of 24%, 25%, and 7%, respectively. Production during the nine-month period ended September 30, 2014 was 379.9 Bcfe, consisting of 364.3 Bcf of natural gas and 2.6 million Bbls of liquids. These figures represent increases of 30%, 31%, and 11%, respectively, compared to the nine-month period ended September 30, 2013. The company has reaffirmed its 2015 production growth guidance range of 20 to 30%. This production growth range is based on an average gross Marcellus production rate range of 1.8 to 2.0 Bcf per day and an average net liquids production range of 18,000 to 20,000 Bbls per day, of which approximately 88% is crude oil. The company's a capital program for 2015 is $1.53 billion to $1.6 billion, which includes drilling and completion capital of $1.25 billion to $1.32 billion. Approximately 52% of the drilling capital will be allocated to the Marcellus, 46% will be allocated to the Eagle Ford Shale and another 2% or so allocated to drilling in other areas. The capital budget assumes 5 operated rigs in the Marcellus, that's down from current count of 6 rigs, and 4 are operated rigs in the Eagle Ford.

Cabot Oil & Gas Corporation Declares Regular Dividend, Payable on November 18, 2014

Cabot Oil & Gas Corporation announced that its Board of Directors declared a regular dividend of $0.02 per share on the company's common stock. The dividend will be paid November 18, 2014 to all shareholders of record as of the close of business November 6, 2014.

Cabot Oil & Gas Corporation to Report Q3, 2014 Results on Oct 24, 2014

Cabot Oil & Gas Corporation announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Oct 24, 2014

Cabot Oil & Gas Corporation, Q3 2014 Earnings Call, Oct 24, 2014

Cabot Oil & Gas Corporation, Q3 2014 Earnings Call, Oct 24, 2014

 

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