Cabot O&G 3Q15: Production Up a Little, Profits Down a Little

not too shabbyCabot Oil & Gas, one of the best-performing Marcellus Shale drillers in the entire play, issued their third quarter 2015 update today. They did pretty well all things considered. The company reports a slight increase in production of 7% year over year. However, the even the mighty Cabot can’t overcome wicked low prices for natural gas in northeastern Pennsylvania–the lowest in the country. Cabot made just over $100 million in profit in 3Q14. This year? They lost $15 million–which ain’t all that shabby compared to just about every other driller in the northeast. By comparison Southwestern, with more acreage and a larger drilling program, lost $1.8 billion in 3Q15. Yikes! Here’s the update issued today by Cabot…

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