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Cabot Maintains Production in Q1 Despite Zero Wells Drilled
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Cabot Oil & Gas reported its Q1 2018 results.
Highlights: Daily equivalent production of 1,884 MMcfe/d, exceeding the high-end of the Company's guidance range (relatively flat YOY and from Q4 2017) - the company did not place any wells online during the quarter Completed the previously announced divestiture of the Company's Eagle Ford Shale assets - becoming a pure-play Appalachia E&P The company expects to ramp up completion activity in 2H18 where they expect to bring 60 wells online.During the first-quarter of 2018, the Company averaged 1,822 MMcfpd of net Marcellus production, an increase of 3% sequentially compared to the fourth-quarter of 2017 despite the Company not placing any wells on production during the quarter.
During the second-quarter of 2018, the Company plans to…
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