Cabot O&G 1Q16: $51M Loss, Production Up 10%, Marcellus Affection

Cabot logoCabot Oil & Gas issued their first quarter 2016 update last Friday. The company reports losing $51 million in 1Q16 (compared to making a $40 million profit in 1Q15) because the price for natural gas slide 40% last year. Production numbers continue to impress. While they operate just a single rig in the PA Marcellus (in Susquehanna County), Cabot’s production increased 10% from 4Q15 to a whopping 1.628 million cubic feet per day average. In addition to the official update, we also selected out portions of Friday’s analyst phone call with Cabot’s top management. Among the topics discussed: the Constitution Pipeline, Cabot’s love of the PA Marcellus, “keep it in the ground” anti-drilling nutjobs and more…

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