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Cabot Oil & Gas Establishes Initial 2014 Production Growth Guidance of 30 to 50 Percent, Reaffirms 2013 Production Guidance



 Cabot Oil & Gas Establishes Initial 2014 Production Growth Guidance of 30 to
                50 Percent, Reaffirms 2013 Production Guidance

PR Newswire

HOUSTON, Sept. 26, 2013

HOUSTON, Sept. 26, 2013 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE:
COG) today established its initial 2014 production growth guidance range of 30
to 50 percent and reaffirmed its 2013 production growth guidance range of 44
to 54 percent. "We have provided initial 2014 guidance to further reaffirm
management's confidence in our ability to continue to provide best-in-class
production growth in 2014," said Dan O. Dinges, Chairman, President, and Chief
Executive Officer. "While production volumes have recently been impacted by
our strategic decision to periodically hold back production due to the recent
softness in Marcellus spot market pricing and scheduled infrastructure
maintenance projects (most of which will be completed by early October), we
believe these are both short-term phenomena that will not have an impact on
our production growth in 2013 and beyond."

"Cabot's Marcellus position continues to provide the most economic natural gas
in North America with a breakeven cost below $1.20/Mcf," stated Dinges. "While
current regional pricing will affect our realized pricing in the short-term,
we continue to believe the focus should be on the quality of our asset and our
extensive inventory of low-risk, high-return drilling opportunities in the
Marcellus Shale."

Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading
independent natural gas producer, with its entire resource base located in the
continental United States. For additional information, visit the Company's
homepage at www.cabotog.com.

The statements regarding future financial performance and results and the
other statements which are not historical facts contained in this release are
forward-looking statements that involve risks and uncertainties, including,
but not limited to, market factors, the market price (including regional basis
differentials) of natural gas and oil, results of future drilling and
marketing activity, future production and costs, and other factors detailed in
the Company's Securities and Exchange Commission filings.

FOR MORE INFORMATION CONTACT
Matt Kerin (281) 589-4642

 

SOURCE Cabot Oil & Gas Corporation

Website: http://www.cabotog.com
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