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Oil and Gas

Cabot Oil and Gas posts smaller loss on $243 mln U.S. tax law benefit

Feb 23 (Reuters) - Cabot Oil and Gas Corp on Friday reported a smaller fourth-quarter loss, helped by a $242.9 million benefit related to the U.S. tax law reforms.

The company’s net loss narrowed to $44.4 million, or 10 cents per share, in the quarter ended Dec. 31, from $292.8 million, or 63 cents per share, a year earlier.

The Texas-based company’s operating revenue rose to $400.5 million from $316.5 million. (Reporting by Ahmed Farhatha in Bengaluru; Editing by Savio D’Souza)

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