First Quarter 2017 Earnings Call April 28, 2017 A decade of progress and perseverance in the Marcellus Shale.
First Quarter 2017 Highlights Equivalent daily production growth of 7% Q1 Q1 relative to the prior-year quarter 2017 2016 Equivalent Production (Mmcfe/d) 1,890 1,762 Net income of 105.7 million compared to a net loss of 51.2 million…
Cabots Realized Natural Gas Prices Have Been Steadily Increasing Due to Improved Regional Prices... 2.65 Excluding Derivatives (/Mcf) 1.96 Realized Natural Gas Price 1.80 1.55 1.49 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1…
While the Outlook for Appalachian Differentials Continues to Improve Cabots Northeast Pennsylvania indices (Leidy Line, Millennium East, TGP Zone 4-300) have averaged between 0.06 - 0.12 below Dominion South Point during the last 12…
Updated 2017 Production Guidance and Capital Budget 2017E Production Growth: Increased from 5% - 10% to 8% - 12% 2017E Oil Production Growth: 15% 2017E Total Program Spending: 845 mm Net D&C Activity (includes 70 mm of equity pipeline…
Cabots Marcellus Wells Placed on Production During Q1 2017 are Outperforming the Generation 4 Type Curve Q1 2017 Generation 4 Wells (20 Wells) Generation 4 Type Curve 90 Cumulative Production (Mmcf per 1,000 Lateral Feet) 80 +14%…
Recent Enhancements to Cabots Eagle Ford Completion Design Are Resulting in Outperformance 3.5 Early 2016 Completion Design Current Completion Design (Last Four Wells With 30 Days of Production) 3.0 +30% Cumulative Oil Production…
Current Leverage Metrics Have Improved to Pre- Downcycle Levels Net Debt to LTM EBITDAX 2.5x 1.8x Average net debt / EBITDAX ratio 1.4x 1.4x prior to the recent downcycle: 1.2x 1.3x 1.2x 0.9x 2011 2012 2013 2014 2015…
Cabots Marcellus Infrastructure Update Atlantic Sunrise Other Projects Construction on the mainline portion of PennEast Pipeline the project began in March 2017 Received final EIS on April 7, 2017 Construction could take as little as…
Best-in-Class Marcellus Capital Efficiency Estimated Drilling, Completion and Facility Capital to Hold 3.7 Bcf/d of Gross Marcellus Production Flat (mm) Average Annual Maintenance Capital: 500mm 600 500 400 300 200 100 0 Average…
Significant Positive Free Cash Flow is on the Horizon, Providing Cabot With Options to Create Shareholder Value Potential Uses of Positive Free Cash Flow Accelerate Production and Cash Flow Growth Evaluate New Platforms for Future…
Appendix
2017 Guidance Full-year 2017 total company production growth guidance Q2 2017 Net Production Guidance increased from 5% - 10% to 8% - 12% Natural Gas (Mmcf/d) 1,780 - 1,820 Increase driven by higher anticipated Marcellus volumes…
Financial Position and Risk Management Profile Debt Maturity Schedule (mm) Q2 2017 Natural Gas Price Exposure by Index (Including Weighted Average Coupon Rate) Millennium East Dominion 600 3.7% 4% 4% Columbia 500 7% 400 Fixed…
EBITDAX and Net Debt Reconciliations 17
Net Income (Loss) Excluding Selected Items and Discretionary Cash Flow Reconciliations 18
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