Cabot Pushing Through Low NatGas Prices, Ramping 2018 Production to Meet Demand

摘要

Cabot Oil & Gas Corp. plans to increase capital spending and production next year, primarily in the Marcellus Shale of northeastern Pennsylvania, as it gears up to fill a series of infrastructure projects that are slated to come online. The company is targeting 15-20% year/ year production growth in 2018. After budgeting up to $720 million for 2017, it plans to spend $1.025-1.150 billion next year, with up to $850 million allocated for the Marcellus. In Appalachia, the Atlantic Sunrise and Orion projects are under construction, as well as two natural gas-fired power plants that Cabot would exclusively supply. The company plans to add a rig and completion crew next year for a total of three rigs and two crews.