Cabot Oil & Gas – Company Information

Cabot Oil & Gas Corp. logo
Company Cabot Oil & Gas Corporation
Headquarters Three Memorial City Plaza, 840 Gessner Road, Suite 1400, Houston, Texas 77024, USA
Chairman, CEO and President Dan O. Dinges
CFO Scott C. Schroeder
Industry Oil and Natural Gas
Founded 1989
Type Public
NYSE stock symbol COG
Revenue $2.173 billion (2014)
Net income $104.468 million (2014)
Earnings per share $0.25 USD (2014)
Employees 691 (2014)
Corporate contact number: 281-589-4600
Investor relations email: [email protected]

Cabot Oil & Gas is an independent corporation that is active in the exploration, extraction, and production of petroleum and natural gas.

The company, which was founded in 1989, is headquartered in Houston, Texas, USA.

It is publicly traded on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘COG’.

Its assets are concentrated in areas with known hydrocarbon resources.

It is a leading independent natural gas producer, with operations in onshore Texas and the Louisiana Gulf Coast, Appalachia, Mid-Continent, and Rocky Mountains.

Development and production operations are primarily concentrated in two areas:

Eagle Ford Shale: located in south Texas, the company holds over 60,000 net acres in the oil window of the play. Net crude oil/condensate/NGL and natural gas production from the Eagle Ford was 2,164 Mbbl (thousand barrels) and 1.2 billion cubic feet (BCF), respectively in 2013.

Marcellus Shale: located in northeast Pennsylvania, it is Cabok Oil & Gas’s largest operating and growth area, with approximately 200,000 net acres in the dry gas window of the play. In 2013 net production in the Marcellus Shale was 356.5 billions of cubic feet equivalent (BCFE). It has 354.6 net wells in the area.

Cabot Oil & Gas also operates in the Marmaton Formation oil play in Oklahoma.

It primarily sells its natural gas to local distribution companies, natural gas processors, industrial customers, and gas marketers. The company’s main markets for natural gas are in the northeastern United States and the industrialized Gulf Coast area.

Income data (in $ thousands) 2014* 2013*
Natural gas revenue $1,590,625 $1,405,262
Crude oil and condensate revenue $313,889 $291,418
Brokered natural gas revenue $34,416 $36,450
Other revenue $14,762 $13,148
– Total revenue $2,173,011 $1,746,278
Operating expenses $2,087,025 $1,217,149
Income from operations $106,186 $551,582
Interest expense $73,785 $66,004
Income before income taxes $32,401 $485,538
Income tax expense $(72,067) $205,765
Net income $104,468 $279,773
Balance sheet data (in $ thousands)
Total assets $5,437,716 $4,981,080
Total liabilities $3,294,983 $2,776,478
Total stockholders’ equity $2,142,733 $2,204,602
Common share data (in $)
Earnings per Common Share – Basic $0.25 $0.67
Earnings per Common Share – Diluted $0.25 $0.66
Cash flow data (in $ thousands)
Net cash provided by operating activities $1,236,435 $1,024,526
Net cash used in investing activities $(1,664,840) $(918,207)
Net cash provided by (used in) financing activities $(425,959) $(113,655)
Cash and cash equivalents, beginning of year $23,400 $30,736
Cash and cash equivalents, end of year $20,954 $23,400

*Years Ended December 31
Source: “Cabot Oil & Gas Corporation Form 10-K 2014”