Profile: Cabot Oil & Gas Corp (COG)
27 May 2015
Cabot Oil & Gas Corporation, incorporated on December 14, 1989, is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company’s exploration, development and production operations are primarily concentrated in two plays: the Marcellus Shale in northeast Pennsylvania and the Eagle Ford Shale in south Texas. The Company also has non-core operations in various other unconventional and conventional plays throughout the continental United States. The Company’s assets are concentrated in areas with hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.
The Company’s Marcellus Shale is the Company's principal operating area. The Company's properties are principally located in Susquehanna County and to a lesser extent Bradford and Wyoming Counties, Pennsylvania. The Company holds approximately 200,000 net acres in the dry gas window of the play. During the December 31, 2013, the Company's net production in the Marcellus Shale was 356.5 one billion cubic feet of natural gas equivalent (Bcfe), representing approximately 86% of the Company's total equivalent production for the year. As of December 31, 2013, the Company had a total of 354.6 net wells producing in the Marcellus Shale.
Eagle Ford Shale
The Company's properties in the Eagle Ford Shale are principally located in Atascosa, Frio, La Salle and Zavala Counties, Texas where the Company holds over 60,000 net acres in the oil window of the play. In 2013, the Company's net crude oil/condensate/NGL and natural gas production from the Eagle Ford was 2,164 one thousand barrels of oil or other liquid hydrocarbons and 1.2 one billion cubic feet of natural gas, respectively, or 14.2 one billion cubic feet of natural gas equivalent, representing approximately 3% of its full year equivalent production. As of December 31, 2013, the Company had a total of 85.4 net wells producing in the Eagle Ford. The Company exited 2013 with two drilling rig operating in the play.
Other Oil and Gas Properties
In addition to the Company's core unconventional resource plays, the Company also operates or participates in other conventional and unconventional plays throughout the continental United States, including the Utica Shale in Pennsylvania, the Pearsall Shale in south Texas; the Cotton Valley, Haynesville, Bossier, and James Lime formations in east Texas; the Devonian Shale, Big Lime, Weir and Berea in West Virginia, and the Frio, Vicksburg and Wilcox formations in south Texas. In 2013, the Company, in the Pearsall Shale drilled a total of 11.1 net wells under a joint development agreement with a wholly owned subsidiary of Osaka Gas Co., Ltd. (Osaka).
The Company operates a number of gas gathering and transmission pipelines systems, made up of approximately 3,100 miles of pipeline with interconnects to three interstate transmission systems and five local distribution companies and numerous end users as of the end of 2013. The majority of the Company's pipeline infrastructure is located in West Virginia and is regulated by the Federal Energy Regulatory Commission (FERC) for interstate transportation service and the West Virginia Public Service Commission (WVPSC) for intrastate transportation service. The Company also has two natural gas storage fields located in West Virginia with a combined working capacity of approximately 4 one billion cubic feet of natural gas.
Cabot Oil & Gas Corp
840 Gessner Rd Ste 1400
HOUSTON TX 77024-4152