October 26, 2018 / 10:40 AM / 22 days ago

Cabot Oil and Gas profit surges on higher prices, gain

Oct 26 (Reuters) - Cabot Oil and Gas Corp reported a surge in third-quarter profit on Friday, helped by higher realized natural gas prices and a gain from asset sales.

The company’s net income rose to $122.3 million, or 28 cents per share, for the third quarter ended Sept. 30, from $17.6 million, or 4 cents per share, a year earlier.

The company booked a gain of $25.66 million in the quarter.

Operating revenue rose to $545.2 million from $385.4 million. (Reporting by Shanti S Nair in Bengaluru; Editing by Sriraj Kalluvila)

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