Cabot Oil & Gas corporate - reported results analysis
The headline items from Cabot's Q3 results were positive operational performance and bullish growth ambitions. Cash operating expenses fell 13% year-on-year, while a 2017 production guidance target of between 5 and 10% was unveiled. The company also announced a 2017 capital budget: spending is expected to increase 81% relative to 2016 against the backdrop of anticipated improved gas prices. But the company also exercised caution, layering on additional gas and liquids hedges for 2017.