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Cabot Unveils Preliminary 2019 Capex; Eyes 20-25% Production Growth
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Cabot Oil & Gas reported its Q3 2018 results. The company also detailed its preliminary 2019 operating plan.
Preliminary 2019 Plans: 2019 Capex: $800-850 million (down -12% at the midpoint from 2018) 2019 Production: Preliminary 2019 production growth guidance range of 20 to 25% - which is approximately 2,700-2,813 Mmcfe/d when calculated from the company's 4Q18 production expectationsIn the Q3 conference call, CEO Dan Dinges commented: "Our expected production growth in 2019 is only 25% to 30% on a debt adjusted per share basis off of a two plus Bcf net per day base it is slightly lower than our original forecast.
"However, so is our capital budget lower by a considerable amount when incorporating the impact of higher expected realized price our free cash flow expectations are in…
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