Independent energy exploration and production (E&P) company Cabot Oil and Gas (COG) reported better-than-expected fourth-quarter results, mainly driven by increased gas production in its North region. Other positive factors include higher commodity price realizations and overall lower expenses.   Earnings per share, excluding non-recurring items, came in at 52 cents, outperforming the Zacks Consensus Estimate of 45 cents and the year-ago earnings of 44 cents. Revenue increased marginally (by 0.4%) to $233.5 million and was above the Zacks Consensus Estimate of $226 million.   Volume Growth Continues   Overall production volumes during the quarter were 26.3 billion cubic feet equivalent (Bcfe), up nearly 3% from the previous-year period. Natural gas volumes were up 2.9% year-over-year to 25.0 billion cubic feet (Bcf) and liquids volumes were up 7.3% to 220 thousand barrels (MBbl).   Strength in natural gas production was driven mainly by the North region, where volumes rose ...

Yesterday, independent energy exploration and production (E&P) company Cabot Oil and Gas (COG) reported better-than-expected third-quarter results, mainly driven by increased gas production in its North region. Earnings per share, excluding non-recurring items, came in at 41 cents, outperforming the Zacks Consensus Estimate of 37 cents.  However, on a year-over-year basis, Cabot’s adjusted earnings per share declined 29.3% (from 58 cents to 41 cents), while revenue was down 15.4% to $207.0 million. The decline from the year-ago quarter can be attributed to lower commodity price realizations.  Volume Growth Continues  Overall production volumes during the quarter were 25.5 billion cubic feet equivalent (Bcfe), up more than 5% from the previous-year period. Natural gas volumes were up 5.2% year-over-year to 24.2 billion cubic feet (Bcf) and liquids volumes were up 11.6% to 231 thousand barrels (MBbl).  Strength in natural gas production was driven mainly by the North ...

Yesterday, independent energy exploration and production (E&P) company Cabot Oil and Gas (COG) reported second-quarter results. Earnings per diluted share, excluding non-recurring items, came in at $0.38, outperforming our expectations of $0.35 and market expectations of $0.33. The Houston-based company’s better-than-expected profits were driven by increased production in its East and Gulf Coast regions.  However, on a year-over-year basis, Cabot’s adjusted earnings per share declined 46.5%, while revenue was down 17.7% to $204.8 million. The decline from the year-ago quarter can be attributed to lower commodity price realizations.  Overall production volumes during the quarter were 25.6 billion cubic feet equivalent (Bcfe), up more than 10% from the previous-year period. Natural gas volumes were up nearly 10% year-over-year to 24.3 billion cubic feet (Bcf) and oil volumes were up more than 4% to 198 thousand barrels (MBbl).  Strength in natural gas production was driven mainly by ...

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