March 1-2, 2020 see the light Third Quarter 2020 Results October 29, 2020 CABOT OIL & GAS CORPORATION CABOT OIL & GAS CORPORATION
Third Quarter 2020 Highlights Q3 Q2 Q3 2020 2020 2019 Daily production of 2,406 Mmcfe per day, within the Companys Equivalent Production (Mmcfe/d) 2,406 2,229 2,399 guidance range, despite price-related curtailments in September…
Cabot Oil & Gas Strategy Focus on Financial Returns Generate financial returns that exceed our cost of capital by focusing on disciplined capital investment and maintaining a low cost structure TTM Q3 2020 ROCE of 8.2% Demonstrate…
2020 Capital Program 575 million 2020 and Preliminary 2021 Capital Program & Outlook 8% 2020 Outlook Cabots 2020 maintenance capital program of 575 million is expected to deliver Drilling / Completions / Facilities an average net…
Free Cash Flow (mm) Expect to deliver positive free cash flow for the fifth consecutive year in 2020, despite the lowest expected NYMEX prices since 1995 Anticipate a significant expansion of free cash flow in 2021 driven primarily…
Return on Capital Employed (ROCE) Focused on generating financial returns that exceed our cost of capital through the commodity price cycle 22.2% Targeting a significant expansion of ROCE in 2021 resulting from higher anticipated…
Net Debt / EBITDAX Target leverage ratio of 1.0x through the commodity price cycle Anticipate a significant reduction in our leverage ratio in 2021, resulting from higher anticipated realized prices and lower absolute debt levels…
Unit Costs (/Mcfe) Industry-leading cost structure supports profitability and financial returns even in the trough of the commodity price cycle All-In Operating Expenses (Including Non-Cash Expenses) 2.17 2.02 1.76 1.44…
Commitment to Sustainability Environmental Social Governance October 2020 36-month OSHA Total Climate Change / GHG Emissions Majority voting Recordable Incidence Rate (TRIR) of Annual director elections Net Production: 100%…
Appendix CABOT OIL & GAS CORPORATION 11
2020 and Preliminary 2021 Guidance 2020 Guidance Q4 2020E Natural Gas Price Exposure By Index 2020E production guidance: 2,325 - 2,340 Mmcfe per day NYMEX (less 0.50) 25% Fixed Price (3.00) 22% Q4 2020E production guidance: 2,300…
Financial Position and Risk Management Profile Debt Maturity Schedule (mm) as of 9/30/2020 Senior Notes (mm) Weighted-Average Coupon Rate 600 7.00% 500 6.00% 6.25% 575 5.00% 400 4.17% 4.00% 300 4.26% 3.67% 3.00% 200 312 2.00%…
2020 / 2021 Hedge Summary 2020 Natural Gas (NYMEX) Swaps Total Volume (Mmbtu) Weighted-Average Price Duration 9,300,000 2.25 October 2020 2020 Natural Gas (NYMEX) Collars Total Volume (Mmbtu) Weighted-Average Weighted-Average…
Reconciliation of Net Income to Adjusted Net Income and Adjusted Earnings Per Share CABOT OIL & GAS CORPORATION 15
EBITDAX Calculation and Reconciliation CABOT OIL & GAS CORPORATION 16
Net Debt Reconciliation CABOT OIL & GAS CORPORATION 17
Discretionary Cash Flow and Free Cash Flow Calculation and Reconciliation CABOT OIL & GAS CORPORATION 18
Return on Capital Employed Calculation CABOT OIL & GAS CORPORATION 19
Finding and Development Costs Calculations CABOT OIL & GAS CORPORATION 20
We believe natural gas provides opportunity for a bright future, one filled with innovation and prosperity. CABOT OIL & GAS CORPORATION 21
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