Dan Dinges, CEO of Cabot Oil & Gas, said last week: “2020 has proven to be the most challenging year for natural gas prices in the last 25 years, resulting from a multi-year trend of overcapitalization of both oil and natural gas assets across our industry.” Indeed. The company released its third-quarter 2020 update on Friday and reported a net loss of $15 million, compared to net income of $90.4 million in 3Q19. This is the first quarterly net loss for Cabot in recent memory. Still, there was plenty of good news coming from the 3Q update…
Dan Dinges, CEO of Cabot Oil & Gas, said last week: “2020 has proven to be the most challenging year for natural gas prices in the last 25 years, resulting from a multi-year trend of overcapitalization of both oil and natural gas assets across our industry.” Indeed. The company released its third-quarter 2020 update on Friday and reported a net loss of $15 million, compared to net income of $90.4 million in 3Q19. This is the first quarterly net loss for Cabot in recent memory. Still, there was plenty of good news coming from the 3Q update…