Cabot O&G in 2012: Membership in 2 Different “1 Billion” Clubs
The 2012 reports continue to roll in. Cabot Oil & Gas has just reported its 2012 report and the results are extraordinary. Cabot joined two different “1 billion” clubs in 2012. First, they surpassed $1 billion in revenues for 2012, earning $1.2 billion. Second, they became the first (and so far only) company to achieve 1 billion cubic feet of natural gas production per day in the Marcellus Shale (see Who’s a Member of the Marcellus “1 Bcf/d” Club?).
Companywide, Cabot’s natural gas production was up an astonishing 43% over 2011, much of that from their drilling in Susquehanna County, PA. Cabot is a great company run by great people, and they have a lot to be proud of when it comes to their performance last year. Here’s the numbers and the rundown for Cabot in 2012: