- Cabot Oil and Gas (NYSE:COG) is one of the few Northeast producers so far this earnings season to say it plans to increase gas production during this year's H2, S&P Global Platts reports.
- The company expects to increase natural gas production by ~4% in Q3 from the previous quarter and another 10% in Q4 from Q3 levels, CEO Dan Dinges said during today's earnings conference call, highlighting the Q4 in-service of the Leidy South Expansion Project and a strong winter gas price outlook.
- Cabot produced 2.2B cfe/day during Q2 and has averaged 2.3B cfe/day so far in Q3, and Q4 production growth will be supported by a 250M cf/day expansion of the company's firm transportation portfolio from the Leidy South Expansion Project coming on line by December 1.
- Cabot executives also emphasized their bullish outlook for Northeast gas prices during the winter 2021-22 strip and into calendar year 2022, citing strong domestic and export demand and an increasingly below-average storage situation.
- Q2 earnings call presentation