Quarterly / Earnings Reports
Marcellus Fuels Cabot's Q2 Production, Income Growth
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Cabot Oil & Gas Corporation reported its financial results for the second quarter of 2013.
Highlights for the quarter include: Production of 95.2 billion cubic feet equivalent (Bcfe), an increase of 52 percent over last year's comparable quarter. Cash flow from operations of $277.3 million and discretionary cash flow of $297.1 million. Net income of $89.1 million, or $0.42 per share. Net income excluding selected items of $95.0 million, or $0.45 per share. Total unit costs were $3.10 per thousand cubic feet equivalent (Mcfe), a 28 percent decline over last year's comparable quarter.Dan O. Dinges, Chairman, President and Chief Executive Officer, commented: "During the second quarter, Cabot continued to deliver strong financial performance as evidenced by increases in net income and…
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