Cabot O&G Attorney Sells $97K of Company Stock
From time to time MDN brings you news of a company’s top management either buying (preferred, from our perspective) or selling (not so preferred) shares of company stock. We figure it’s a good sign when the people who run the company believe in it enough that they plunk down their own coin to buy shares of it. We should hasten to add selling company stock is not necessarily a bad sign or indicator of a lack of confidence. People have lives and need money: kids to put through college, renovations to the house, Christmas debt to pay off, etc. This latest buying/selling incident is one in which a top officer is *selling* stock. Cabot Oil & Gas’ General Counsel, George Cunningham, sold 5,670 shares of company stock on Monday for a total price of $97,297.20…
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Way back in May 2014 MDN told you that UGI Energy Services, a subsidiary of UGI (a utility company in northeast PA) would build two new pipelines in northeast PA for $80 million that will allow them to transport cheap, abundant, locally extracted natural gas from Cabot Oil & Gas in Susquehanna County to residents in the greater Scranton/Wilkes-Barre area (see 
Cabot 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…
Sometimes you have to reach out to the other side (i.e. the unreasonable enemy of fossil fuels) to try and convince them that the oil and gas industry is not Satanic. We don’t bother with trying to convince them (lost cause in our opinion), but kudos to those who have the patience to try it. Case in point: Cabot Oil & Gas recently hosted a delegation from the Big Green/radical group Trout Unlimited (TU). TU, you may recall, is the sad story of a once great group co-opted into being a radical green group (see 
From time to time we bring you news of top management at drillers (upstream) or pipeline companies (midstream) who either buy or sell large blocks of their own company’s stock. It’s always hard to divine what someone’s motivation is when buying or selling. We typically take it to be a good sign when top management or board members buy stock–it shows they believe in the company they run, enough to put their own money on the line. We have another case–this time a company’s top lawyer selling stock in one of the top drillers in the Marcellus. Cabot Oil & Gas’ General Counsel, George Kevin Cunningham, sold 3,623 shares of Cabot stock in a transaction dated Tuesday, September 29th. He got $81,046.51. But lest you view the transaction negatively, consider this: Cunningham still owns 42,210 shares worth nearly a million bucks. Looks to us like maybe he’s sending a kid off to college or remodeling the house with this sale…
Once again the great people at Cabot Oil & Gas have done it again. Back in 2012 the company helped raise $4.4 million for a local hospital in Susquehanna County, PA, with half of the money contributed by Cabot (see 
The Rogersville Shale once again popped up on the radar. Yesterday at the West Virginia Oil and Natural Gas Association (WVONGA) Conference in Wheeling, WV, a research geologist with the Kentucky Geological Survey talked about the Rogersville Shale, outlining its geography in both WV and KY. Corky Demarco, executive director of WVONGA chimed in with a reminder that Cabot Oil & Gas has drilled a test well in the WV Rogersville in Putnam County (see 
Investment research service Morningstar is out with their latest “Quarter-End Insights” on energy. The highly regarded service says (a) the price of crude oil won’t rebound anytime soon, and their long-term price projection is for oil to be priced around $64/barrel here in the U.S., (b) even though natural gas production is slowing in the U.S., there’s plenty more ready to go online and therefore prices will remain low for a while–they project a “midcycle” price for natural gas of $4/Mcf; and (c) one of their top three picks for stocks in the energy space is Marcellus driller Cabot Oil & Gas…
Cabot Oil & Gas is one of the stellar success stories of the Marcellus Shale. They drill in a single northeastern Pennsylvania county–Susquehanna County (near where MDN is located). From that single county Cabot produces 1.7-1.8 billion cubic feet (Bcf) per day of natural gas. If you want to know how to “do it right” with shale drilling in the Marcellus–you watch Cabot. The company participated in the Barclays CEO Energy/Power Conference 2015 last week in New York City. We grabbed a copy of their PowerPoint presentation from that event and include it below, along with some of the insights we glean from reviewing the presentation…
There is no doubt the current stock market crash (what else can you call it?) has affected everyone and everything–including the Marcellus/Utica industry. Yesterday the price of West Texas Intermediate (WTI) crude oil closed the trading day at $38.24 per barrel–the lowest price since 2009 during the dark days of “the Great Recession”. Natural gas trading at the benchmark Henry Hub in southern Louisiana, often used as a proxy for all natural gas, closed at $2.64 per thousand cubic feet (Mcf). The Dow Jones Industrial average sunk another 588 points to close down more than 1,000 points in two trading sessions–last Friday and yesterday. At the beginning of trading yesterday, the DJIA experienced its biggest intraday (within a single day) loss ever–plunging more than 1,000 points as trading began. Thankfully it regained nearly half of that–but still, it was scary on many levels. All of that fear has affected all stocks, including the stock price for some of the biggest Marcellus/Utica drillers, who saw losses averaging 7-10% in a single day–yesterday…