Barclays CEO Energy Power Conference – Cabot Oil & Gas Corp

Cabot Oil & Gas Corp · Sep 5, 2012 · 31 slides

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Cabot Oil & Gas Corporation Investor Presentation Barclays 2012 CEO Energy-Power Conference September 5 6 New York, NY
SIMPLE FOCUSED STORY 2ND HALF 2012 Joint Venture Funding Allows for Increased Activity Levels Marcellus (4 rigs) Pearsall (2 rigs) Eagle Ford (1 rig) Marmaton (2 rigs)
Cabot Oil & Gas Corporation Highlights
Click to edit Master title style CAPITAL PROGRAM 2012 775 to 825 million (net of asset sales and JV) 2013 Estimate 900 million to 1 billion Drilling 40% 83% Liquids Other Exploration Expense 60% 2% Gas Seismic 1% Gas…
PREMIER ASSETS CONTINUE ClickTO toDRIVE CAPITAL edit Master title style EFFICIENCY 3.00 Drill-bit F&D 1 2.66 2.50 2.20 2.00 /Mcfe 1.50 1.29 1.27 1.25 1.25 1.00 0.50 0.00 2007 2008 2009 2010 2011 2012 Est.…
FIVE-YEAR PRODUCTION Click GROWTHto edit Master title style SUMMARY & EXPECTATIONS 300 281 50% 275 Guidance Range 35% 250 253 225 200 187.5 43.5% 175 Bcfe 150 130.6 Liquids (bcfe) 26.8% 125 Gas (bcfe) 103.0 95.2…
Click to edit Master title style FIVE-YEAR RESERVE GROWTH SUMMARY 4,000 3,500 3,033 3,000 2,701 2,500 2,060 1,942 Bcfe 2,000 Liquids (bcfe) 1,616 Gas (bcfe) 1,500 1,000 500 - 2007 2008 2009 2010 2011 2012…
Click to edit Master title style UNIT COST TOTAL COMPANY Total Company 2012 2008 2009 2010 2011 Forecast Unit Cost (/Mcfe) Operating 0.96 0.91 0.76 0.57 0.40-0.55 Exploration 0.33 0.49 0.33 0.19 0.10-0.20 Transportation * - - -…
Click to edit Master title style Cabot Oil & Gas Corporation Marcellus
Click to edit Master title style CABOT MARCELLUS SUMMARY Wells Producing: 147 H, 37V WOPL: 20 wells (267 Stages) Completing: 8 wells (102 Stages) WOC: 25 wells (403 Stages) Horizontal Rigs: 4 View is looking northeast…
Click to edit Master title style LEADING PRODUCTION THICKEST MARCELLUS Cumulative Production 6+ BCF 5-6 BCF 4-5 BCF 3-4 BCF View is looking northeast across 2-3 BCF Susquehanna County Bare Earth LiDAR with Aerial photo,…
PROVING UP ACREAGE FURTHER STEPOUTS Daniels Pad Reilly Pad Zick Pad View is looking north across Susquehanna County Bare Earth LiDAR with Aerial photo, Township Lines, All wells and Cabot Acreage 3 Miles
Daniels 1V thick, high TOC Marcellus, Extends East Fraser 1V Teel 2/7 Stalter 8V Daniels 1V 0 GR (API) 400 0 GR (API) 400 0 GR (API) 400 0 GR (API) 400 240 ft 370 ft 50 ft LOWER MARCELLUS CUTTINGS LITTLE MEADOWS…
HYPOTHETICAL - 10 WELL PAD, 130+ POTENTIAL STAGES 1000 ft 500 ft N 1000 ft.
Click to edit Master title style EFFICIENCIES OF PAD DRILLING Pad A Pad B Pad C Pad D of wells per pad 2 4 8 10 Total rig move days per pad1 9.0 11.0 15.0 17.0 Spud-to-rig release (days) 19.0 19.0 19.0 19.0 Average spud-to-spud…
Cabot Oil & Gas Corporation Marcellus Infrastructure
PRODUCTION OUTLETS Delivery Point Pricing 54% Springville to Transco Dominion, Appalachia plus 2-6 36% TGP 300 Dominion, Appalachia less 12-16 10% Millennium Dominion, Appalachia less 12-16
MARKETS Click to edit Master title style VT NH Iroquois NY TGP 200 Line Constitution MA Laser RI Millennium CT TGP 300 Line Stagecoach Susquehanna County Springville Transco PA NJ 18
INFRASTRUCTURE CAPACITY WELLHEAD TO INTERSTATE PIPELINES Gathering Infrastructure Flow lines and gathering lines connecting all pads to the various compressor stations Compression Capacity - Current Lathrop Station 450,000 Mcf per day…
Cabot Oil & Gas Corporation South Region Oil Plays
CURRENT DRILLING AREAS Cabot Oil & Gas Corporation Current Active Drilling Areas Net Acres Marmaton Penn Lime 69,600 Eagle Ford 80,000 Pearsall * 62,500 *Osaka Transaction in Pearsall 17,500 net acres sold
SOUTH TEXAS Cabot Oil & Gas Corporation EAGLE FORD / PEARSALL
EAGLE FORD & PEARSALL San Antonio target Eagle Ford POWDERHORN PRESIDIO Buda Del Rio Shale BUCKHORN Georgetown Edwards Upper Bexar target Lower Bexar Pearsall Cow Creek (James) target Pine Island Shale Sligo
BUCKHORN EAGLE FORD CURRENT STATS ALL WELLS Wells Drilled: 37 Well C Current Drilling: 1 30 day IP: 793 Bopde Lateral: 7,088 1,200 ft Well D Wells Producing: 34 30 day IP: 499 Bopde Lateral: 6,566 Completing/Waiting on…
REGIONAL PEARSALL ACTIVITY Gillespie Lee Washing Travis NE Trend: Cheyenne, EOG, Valance, Chesapeake, Kerr Comstock, Plains. Blanco Bastrop Hays SW Trend: Chesapeake, Hughes, Blackbrush, Shell, Anadarko, Kendall Edwards…
BUCKHORN PEARSALL 2012 PLANNING COG Type Log PEARSALL COG Pearsall Evaluation Well WOC GROUP 500 600 2012 DRILLING 2013 Frio Atascosa Powderhorn Mc Mullen La Salle 2012 1 Monitor COG Pearsall 2013 2 Horizontal…
PEARSALL INFRASTRUCTURE Gillespie Lee Washing Travis Blanco Kerr Hays Bastrop Kendall Edwards Fayette Real Caldwell Comal Bandera Val Verde Colora Guadalupe San Antonio Bexar Gonzales Lavaca Uvalde Kinney TexStar…
PENN LIME - MARMATON Cabot Oil & Gas Corporation
PENN LIME MARMATON N Beaver Last Five 24 Hour Rate After Texas Beaver Completions Clean-up Bopd Mcfpd . OK Well A 1,279 1,144 TX Well B 646 563 Perryton Well C 1,107 870 Hansford S Lipscomb Well D 647 345 Ochiltree 0 4 8…
PENN LIME HIGHLIGHTS Highest 24 Hour Rate Well to Date Wells currently on flow back 2,004 Bopd, 2,179 Mcfpd most southern well 3.55 MM estimated CWC most northern well < 3 month payout 20 mile separation Barefoot Completion COG…
IN CLOSING Tremendous growth opportunities, as highlighted by 2012 and 2013 Guidance Prudency in Balance Sheet Cash flow positive Investment Program in 2013

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