Last $33.52 USD
Change Today +0.30 / 0.90%
Volume 843.6K
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As of 11:02 AM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Three Memorial City Plaza

840 Gessner Road

Suite 1400

Houston, TX 77024

United States

Phone: 281-589-4600

Fax:

Cabot Oil & Gas Corporation, an independent oil and gas company, is engaged in the development, exploitation, exploration, production, and marketing of natural gas, crude oil, and natural gas liquids in the United States. Properties The company’s operations are primarily concentrated in two unconventional plays—the Marcellus Shale in northeast Pennsylvania and the Eagle Ford Shale in south Texas. The company also has operations in various other unconventional and conventional plays throughout the continental United States. Marcellus Shale The company’s properties are principally located in Susquehanna County and to a lesser extent Bradford and Wyoming counties, Pennsylvania. The company holds approximately 200,000 net acres in the dry gas window of the play. As of December 31, 2013, the company had a total of 354.6 net wells in the Marcellus Shale, the majority of which are operated by the company. As of December 31, 2013, the company had 30.0 net wells that were either in the completion stage or waiting on completion or connection to a pipeline. Eagle Ford Shale The company’s properties in the Eagle Ford Shale are principally located in Atascosa, Frio, La Salle and Zavala counties, Texas where the company holds approximately 60,000 net acres in the oil window of the play. As of December 31, 2013, the company had a total of 85.4 net wells in the Eagle Ford. Other Oil and Gas Properties In addition to its core unconventional resource plays, the company also operates or participates in other conventional and unconventional plays throughout the continental United States, including the Utica Shale in Pennsylvania, the Pearsall Shale in south Texas; the Cotton Valley, Haynesville, Bossier, and James Lime formations in east Texas; the Devonian Shale, Big Lime, Weir and Berea in West Virginia; and the Frio, Vicksburg and Wilcox formations in south Texas. Other Properties Ancillary to its exploration, development and production operations, the company operates gas gathering and transmission pipeline systems, made up of approximately 3,100 miles of pipeline with interconnects to three interstate transmission systems and five local distribution companies and various end users. The majority of its pipeline infrastructure is located in West Virginia and is regulated by the Federal Energy Regulatory Commission (FERC) for interstate transportation service and the West Virginia Public Service Commission (WVPSC) for intrastate transportation service. The company also has two natural gas storage fields located in West Virginia with a combined working capacity of approximately 4 Bcf (billion cubic feet of natural gas). Markets The principal markets for its natural gas are in the northeastern United States and the industrialized Gulf Coast area. In the northeastern United States, the company sells natural gas to industrial customers, local distribution companies and gas marketers both on and off its pipeline and gathering system. In the Gulf Coast area, the company sells natural gas to intrastate pipelines, natural gas processors and marketing companies. Properties in the Gulf Coast area are connected to various processing plants in Texas and Louisiana with multiple interstate and intrastate deliveries, affording the company access to multiple markets. Reserves As of December 31, 2013, the company had proved reserves of approximately 5,454 Bcfe (billion cubic feet of natural gas equivalent). Strategy Main components of the company’s business strategy include the following: disciplined capital spending focused on high-return, organic projects; low cost structure; conservative financial position and financial flexibility; continued portfolio management; and expand unconventional resource initiatives. Seasonality Demand for natural gas has been seasonal, with peak demand and typically higher prices occurring during the colder winter months. Significant Events In December 2013, the company sold certain proved and unproved oil and gas properties located in the Oklahoma and Texas panhandles to Chaparral Energy, L.L.C. History Cabot Oil & Gas Corporation was founded in 1989.

 

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COG

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Valuation COG Industry Range
Price/Earnings 37.2x
Price/Sales 7.0x
Price/Book 5.7x
Price/Cash Flow 13.4x
TEV/Sales 6.4x
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