- Cabot Oil & Gas (COG) +2.3% AH after Q4 earnings jumped 91% on sharply higher production, offsetting some pricing declines for natural gas and other commodities.
- Q4 natural gas production rose 56% Y/Y while realized average prices, which include hedging effects, fell 12%; output of oil, condensate and natural gas liquids - which are a smaller part of production - rose 34% though average prices declined 9.3%.
- Maintains its Marcellus rig count at six rigs for 2014, which COG says will reduce its 2014 capital budget to $1.3B-$1.4B from $1.375B-$1.475B without affecting the previously announced 2014 production guidance of 519B-598B cfe.
- Says 2013 year-end proved reserves were 5.5T cfe, up 42% over year-end 2012.
- Enters into a long-term gas sale and pipeline takeaway capacity agreement with WGL Holdings (WGL).
Check out Seeking Alpha’s new Earnings Center »
From other sites
at Benzinga.com (Feb 25, 2015)
at Investor's Business Daily (Feb 20, 2015)
at Benzinga.com (Feb 20, 2015)
at Nasdaq.com (Jan 27, 2015)
at Nasdaq.com (Jan 9, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs