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EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp

Cabot Oil & Gas Corp · Aug 15, 2016 · 16 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 1
    EnerComs The Oil & Gas Conference August 15, 2016
  2. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 2
    CABOT OIL & GAS OVERVIEW 2015 Production: 602.5 Bcfe (13% growth) 2015 Year-End Proved Reserves: 8.2 Tcfe (11% growth) 2016E Drilling Activity: 32 net wells 2016E Production Growth: 2% - 7% Marcellus Shale Eagle Ford Shale…
  3. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 3
    KEY INVESTMENT HIGHLIGHTS Peer-leading EURs in the Marcellus Shale of 3.8 Bcf per 1,000 feet Extensive Inventory of Low-Risk, High-Quality Marcellus location count of 3,450 locations Drilling Opportunities Current breakeven realized…
  4. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 4
    2016 CAPITAL BUDGET AND OPERATING PLAN CONTINUED FOCUS ON CAPITAL EFFICIENCY 2016E Capital Program: Net Wells Drilled 345 mm (excludes 30 - 35 mm 133 of equity method investments) Land Other 2% 4% 32 FY 2015 FY 2016E Net…
  5. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 5
    PROVEN TRACK RECORD OF PRODUCTION AND RESERVE GROWTH Annual Production (Bcfe) 700 602.5 600 531.8 2016 500 413.6 13.3% Guidance: Bcfe 400 2% - 7% 28.6% 300 Liquids 200 Gas 100 0 2013 2014 2015 2016E Year-End Proved…
  6. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 6
    WHILE MAINTAINING A CONSERVATIVE BALANCE SHEET Net Debt to LTM EBITDAX1 2.5x 1.8x 1.3x 1.2x 0.9x YE 2012 YE 2013 YE 2014 YE 2015 Q2 2016 1EBITDAX is a non-GAAP measure defined as net income plus interest expense,…
  7. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 7
    INDUSTRY-LEADING COST STRUCTURE Operating Transportation Taxes O/T Income Cash G&A Financing Exploration 2.00 1.88 1.74 1.50 Cash Unit Costs (/Mcfe) 1.31 1.30 1.30 1.19 1.00 0.50 0.00 2011 2012 2013 2014 2015…
  8. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 8
    EAGLE FORD SHALE
  9. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 9
    CABOTS EAGLE FORD SHALE SUMMARY Eagle Ford Lateral Lengths (Ft.) 85,500 net acres 9,500 Buckhorn: 75,000 net acres 7,300 7,400 Presidio: 10,500 net acres No rigs currently operating 2016E activity: 6 net wells drilled / 15…
  10. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 10
    MARCELLUS SHALE
  11. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 11
    CABOTS MARCELLUS SHALE SUMMARY 200,000 net acres Marcellus Planned Lateral Lengths (Ft.) 7,000 Current operated rig count: 1 5,900 5,300 Current completion crews: 2 2016E activity: 26 net wells drilled / 55 - 60 net wells…
  12. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 12
    CABOT HAS 18 OF THE TOP 20 WELLS DRILLED IN PENNSYLVANIA SINCE 2012 Cumulative Natural Gas Production (Bcf) 17.5 14.7 14.4 14.0 13.3 13.1 12.8 12.2 12.1 11.8 11.4 11.1 11.0 10.8 10.8 10.5 10.4 10.3 10.3 10.3 Source:…
  13. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 13
    PEER-LEADING EUR AND WELL COSTS IN THE MARCELLUS SHALE EUR / 1,000 of Lateral (Bcf) 3.8 3.0 2.4 2.3 2.2 2.1 Cabot Peer A Peer B Peer C Peer D Well Cost / 1,000 of Lateral (000s) 900 925 944 814 819 Cabot Peer A Peer…
  14. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 14
    CABOTS MARCELLUS DRILLING EFFICIENCIES Drilling Days (Spud to Rig Release) 0 5 10 15 20 25 0 Total Measured Depth (Ft.) 2011 4,000 2012 2013 2014 8,000 2015 2016 12,000 16,000 Since 2011, Cabots drilling…
  15. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 15
    MARCELLUS TYPE CURVE AND WELL ECONOMICS BASED ON THE MARGINAL ECONOMICS FOR NEW WELLS PRODUCED AND SOLD DIRECTLY INTO THE LOCAL NORTHEAST PENNSYLVANIA MARKET (LEIDY LINE) 3.5 Single Well Assumptions Rate (Mmcf/d per 1,000…
  16. EnerCom The Oil & Gas Conference – Cabot Oil & Gas Corp – slide 16
    CABOT HAS THE ABILITY TO DOUBLE ITS MARCELLUS PRODUCTION OVER TIME BASED ON ITS PREVIOUSLY ANNOUNCED FIRM TRANSPORT AND FIRM SALES ADDITIONS 500 Mmcf/d 240 150 Mmcf/d 165 Mmcf/d 850 135 Mmcf/d Mmcf/d Mmcf/d 3.5 3.5 3.3…

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