Cabot Oil & Gas Corporation Discussion Handout UBS Global Oil & Gas Conference Barton Creek, Austin, Texas May 26, 2010
COG for 2010 33 Percent hedged (based on mid-point of guidance) 9 34 per Mcf average for natural gas 9.34 104.25 per barrel average for oil Investment at 650 (could expand for right opportunity) Ongoing leasing initiatives…
2010 Investment Allocation Total Drilling Prod. Equip, Pipeline & Facilities 12% 68% Lease Acquisition 12% 7% Other Capital p 1% Total Exploration Expense
Cabot Oil & Gas Corporation OPERATIONS
South Region Initiatives Acreage capture Capital allocations only toward primary term leases Majority focus on Haynesville/Bossier in County Line area Transition capital allocation towards more liquids Increase Pettet oil…
Eagle Ford VERDE Oil Window GUADALUPE Gas/Cond Window GONZALES BEXAR Dry Gas KINNEY Window UVALDE MEDINA 4.5 million acres WILSON ( il window) (oil i d ) DE WITT ATASCOSA KARNES ZAVALA FRIO MAVERICK GOLIAD…
Haynesville Shale Play East Texas Cabot Activity COMMON COMMON Red River 35 1H Burrows 1H WOC 20.2 MMCF/D W.I. 29% W.I. 42% COMMON Red River 365 1H Drilling COG W.I. 1.25% Von Goetz 3V 3V DEVON 6 MMCF/D Kardell 1H W.I.…
Mid Bossier Shale Play Mid Bossier Shale Play East Texas East Texas North North Louisiana Louisiana East Texas North Louisiana ECA Walker 2H EOG 21 MMCF/D S.F. 5 2H CHK 14.7 MMCF/D Blackstone 1H 9 4 MMCF/D 9.4 COG…
Taylor Sand Horizontal Play Minden Tufco f 1H1 IP: 8.9 MMCF/D FCP: 1,600 PSI Birdwell 11H IP: 11.1 MMCF/D FCP: 22,400 400 PSI Pinkerton Pinkerton TXU 11H IP: 9.5 MMCF/D FCP: 1,945 PSI Dunklin Economics Budget…
North Region Initiatives Marcellus primary term acreage capture Expand drilling Expand pipeline and compression Add firm takeaway capacity
Marcellus Summary Acreage: A 193M+ 193M + (leasing) (l i ) 6 Horizontal Rigs, 1 Moving In Horizontal 30 D/Avg. IP 7.1 Mmcf Mmcf/d /d First Marcellus Prod. Prod in NE PA 86 wells drilled COG Teel 5V 63 completed 2 completing…
Susquehanna Current 5 Year Plan Total Leasehold 193M+ Net Acres 2014 Wildcat 2 Wildcat 1 2013 2014 2012 2012 Susquehanna 2011 2014 2014 2010 2011 2013 DEP Wildcat 3 Affected 2012 2014 2009 2008 2010 Area Lathrop…
Days vs. Drilling Depth Susquehanna County Days 0 5 10 15 20 25 30 35 40 45 50 0 1000 2000 Well 1 Well 1 1H 03/14/2010 Kelley 1H Kelley 03/14/2010 3000 Well 2 12/30/2009 Greenwood 6H 12/30/2009 4000 Well 3…
Lathrop Compressor Station Status: Under Construction March 2010 Free Flow (15-20 MMCF/D) June 2010 Expected Startup (60 MMCF/D) August 2010 Phase 2 (165 MMCF/D)
Susquehanna Gross Production 220 ACTUAL PRODUCTION FORECAST PRODUCTION 200 180 160 140 120 Current Rate 2010 PROGRAM 115 MMCF/D 100 80 60 40 2009 PROGRAM 20 BASE PRODUCTION 0
Susquehanna Take Away Opportunities * Backhaul to WV 100 000 Mcf/d 100,000 3 * Firm Through Third Party Customer 50,000 Mcf/d 3 * Pi li Option Pipeline O ti to t Transco T 150 000 Mcf/d 150,000 M f/d 3 * Stagecoach Lateral and…
Summary Cabot will remain opportunistic adding acreage in existing plays Cabot will continue to transition capital allocation towards more liquid opportunities Cabot is committed to resolving PaDEP matters Cabot will continue…