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Cabot Reduces FY 2018 Production Forecast; Cites Pipeline Issues
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Cabot Oil & Gas today provided an early look at what we can expect in 3rd Quarter. The company lowered its FY 2018 daily production growth guidance range to 7%-8% from 10%-12% to reflect the impact of Q3 actuals. Cabot also trimed its full-year capital budget by $20M to $940M.
You might also remember, that the company recently came up dry in its attempt to drill on the fringes of the Permian Basin.
Capital ExpenditureOriginal Guidance
$960 Million (83% Marcellus, 8% Exploration Area, 7% Pipeline Investments)Revised
$940 million. Production Rates Initial 3Q 2018 Production Guidance was 2,150 (mid-point of 2100 and 2200 Mmcfe/d) Actual 3Q expected 2,029 Mmcfe/dNew Takeaway Capacity on Leidy South Expansion Project
Cabot recently entered into a precedent agreement with Transco…
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