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Cabot Oil & Gas Corporation

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johnsyn

07/26/12 10:03 AM

Post #134

Cabot Issues Statement On EPA Data And Decision
Wed July 25, 2012 6:06 PM | about: COG

HOUSTON, July 25, 2012 /PRNewswire/ --Cabot Oil & Gas Corporation (COG) today announced that the US Environmental Protection Agency (EPA) has determined, "that there are not levels of contaminants present that would require additional action by the Agency." This statement, from their release, is the result of data from a second, confirmatory set of water samples from its testing in Dimock, PA. At the same time, the EPA also announced that it would cease deliveries to residents currently receiving water from the EPA, because the agency, "determined that it is no longer necessary to provide residents with alternative water."

As with the three previous sets of water samples compiled by the EPA at private drinking water wells in Dimock, PA, the data released today once again confirms the EPA and Department of Environmental Protection (DEP) findings that levels of contaminants found do not possess a threat to human health and the environment. These findings are consistent with thousands of pages of water quality data previously accumulated by state and local authorities and by Cabot Oil & Gas. As with the other findings, the EPA did not indicate that those contaminants that were detected bore any relationship to oil and gas development in the Dimock area.

"All of us at Cabot are pleased with the Dimock water test results announced today by the EPA," said Dan O. Dinges, President, Chairman and Chief Executive Officer of Cabot Oil & Gas Corporation. "The conclusions reached by the EPA mirror those previously made by the Pennsylvania Department of Environmental Protection and Cabot. I am satisfied that concerns over water quality have been studied to the highest levels of scrutiny. I hope this will finally put this matter to rest and I personally want to thank all those members of the community who were supportive throughout this period."

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 Internet 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
Scott Schroeder (281) 589-4993

SOURCE Cabot Oil & Gas Corporation

johnsyn

07/24/12 6:52 PM

Post #133

6:36 PM Cabot Oil & Gas (COG): Q2 EPS of $0.05 misses by $0.02. Revenue of $265M (+10.4% Y/Y).

Timothy Smith Free

07/20/12 2:52 PM

Post #132

Re: #131: @johnsyn - I guess a lot has to be leary

Yeah that is always a big factor with these domestic petro companies. I for one am a huge believe in domestic petro production and what it can do for America's independence and economy. Drill drill drill, baby drill!

johnsyn

07/20/12 1:54 PM

Post #131

Re: #130: @Timothy Smith - The July sideways action here leads me to

I guess a lot has to be leary of the well contamination that Cabot had to pay for trucking in water, plus fines, etc. PPS climbed after the EPA said the water was fine again, but the locals keep on complaining....

Timothy Smith Free

07/20/12 11:09 AM

Post #130

Re: #129: @johnsyn - thanks for posting it, was busy all day

The July sideways action here leads me to believe the market wants to go higher. Will be watching for a break out.

johnsyn

07/20/12 9:49 AM

Post #129

Re: #128: @Timothy Smith - Cabot Oil & Gas Declares Dividend

thanks for posting it, was busy all day yesterday, didn't catch up with the news, and still haven't. Dividend doesn't seem to be helping right now with today's market uglies.

Timothy Smith Free

07/19/12 7:31 PM

Post #128

Re: #127: @johnsyn - http://seekingalpha.com/article/730651-with-the-cabot-oil-gas-osaka-joint-ventur

Cabot Oil & Gas Declares Dividend

Jul 19, 2012 5:30:00 PM
HOUSTON, July 19, 2012 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that its Board of Directors declared a regular dividend of two cents ($0.02) per share on the Company's common stock. The dividend will be paid August 9, 2012 to all shareholders of record as of the close of business August 2, 2012.

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 Internet homepage at www.cabotog.com.

FOR MORE INFORMATION CONTACT

Scott Schroeder (281) 589-4993

SOURCE Cabot Oil & Gas Corporation

johnsyn

07/18/12 7:03 PM

Post #127

http://seekingalpha.com/article/730651-with-the-cabot-oil-gas-osaka-joint-venture-pearsall-shale-joins-the-horizontal-oil-race?source=email_rt_article_readmore&ifp=0

johnsyn

07/16/12 6:12 PM

Post #126

Pennsylvania drought has nat gas production from fracking cut. Susquehanna Commission is suspending permits to draw water from the river.

johnsyn

05/12/12 10:26 AM

Post #125

Water safe in town made famous by fracking-EPA

By Timothy Gardner
WASHINGTON, May 11 (Reuters) - The U.S. Environmental
Protection Agency said drinking water is safe to consume in a
small Pennsylvania town that has attracted national attention
after residents complained about hydraulic fracturing, or
fracking, for natural gas.
The EPA has completed testing water at 61 homes in Dimock,
Pennsylvania where residents have complained since 2009 of
cloudy, foul-smelling water after Cabot Oil & Gas Corp
drilled for gas nearby.
"This set of sampling did not show levels of contaminants
that would give EPA reason to take further action," Roy Seneca,
a spokesman for the regional EPA office, said about the final
set of data released Friday. The agency released data for only
59 of the homes as they could not contact residents at two of
them.
Dimock became ground zero for the debate about fracking
after Josh Fox, the director of Oscar-nominated 2010 documentary
called "Gasland," visited the town and met residents who feared
their water was contaminated by the drilling.
Techniques including fracking have revolutionized the U.S.
natural gas industry by giving companies access to vast new
reserves that could supply the country's demand for 100 years,
according to the industry.
Environmental and health groups, however, say that some
fracking operations near homes and schools pollute land and
water.
The EPA will re-sample four wells where previous Cabot and
state data showed levels of contaminants, but where EPA's first
round of testing did not find levels that would require action,
Seneca said.
The agency found one well in the last batch of data that
contained methane, a main component of natural gas.
Seneca would not say what the agency thought the source of
that methane was, but said the agency will conduct a review of
the data.
Residents have complained that methane could be from
fracking, but industry groups say methane can occur naturally in
wells in energy-rich areas.
Over the course of the EPA tests that have been released
since mid-March, contaminants were found in some wells. But the
EPA said those levels were safe. In the first set of tests, for
example, six of 11 homes showed concentrations of sodium,
methane, chromium or bacteria. Arsenic was also found at two
homes, but, again, levels were deemed safe.
Cabot spokesman George Stark said any contaminants found in
the tests "are more likely indicative of naturally-occurring
background levels or other unrelated activities."
Another three Dimock homeowners had wanted their water to be
sampled by the EPA but they have not scheduled a time for the
testing.

(Reporting By Timothy Gardner;editing by Sofina Mirza-Reid)
((timothy.gardner@thomsonreuters.com)(+1 202 898-8360)(Twitter
@timogard))

Keywords: USA FRACKING/DIMOCK

johnsyn

05/01/12 9:28 AM

Post #124

Consortium of Energy Producers Announces Recommended Standards and Practices for Exploration and Production of Natural Gas an...
Today : Tuesday 1 May 2012

The Appalachian Shale Recommended Practices Group (ASRPG), a consortium of 11 of the Appalachian Basin's largest natural gas and oil producers, today announced the creation of the Recommended Standards and Practices for Exploration and Production of Natural Gas and Oil from Appalachian Shales.
The ASRPG's Recommended Standards and Practices for Exploration and Production of Natural Gas and Oil from Appalachian Shales were developed to promote effective safety, environmental and health practices consistent with the key recommendations of both the U.S. Secretary of Energy Advisory Board's (SEAB) final report issued in November 2011, and the National Petroleum Council's (NPC) Prudent Development report issued in September 2011.
Both reports acknowledge regional differences in geology, land use, water resources and regulation. Consistent with these findings, the Recommended Standards and Practices for Exploration and Production of Natural Gas and Oil from Appalachian Shales reflect existing primacy of state regulation in the areas it addresses, which encompass each phase of the life cycle of a well. The entire document may be viewed in the attached .pdf file.
In conjunction with the Recommended Standards and Practices document, the ASRPG issued the following statement:
"As producers in the Appalachian Basin, we strive to be responsible operators that conduct business in a transparent and sustainable manner, and openly communicate with stakeholders. ASRPG's members are committed to conducting operations in compliance with all applicable federal, state and local laws, regulations and ordinances, and implementing standards, practices and procedures that meet or exceed regulatory requirements. The continuous evolution of technology used by the oil and natural gas industry has improved economic opportunities in the Appalachian region, energy security and the ability to conduct operations in a safe and environmentally responsible manner. ASRPG's goal is to encourage operators to implement today's technologies that enhance safety and environmental performance. We also recognize it is essential for all operators to continuously improve and adopt effective practices as technology evolves."
The ASRPG's consensus-based approach to developing the recommended standards and practices for Appalachian Shales provides a roadmap to enhance transparency and regulatory compliance, as well as empowers workers to stop work that is potentially unsafe, emphasizes the importance of optimizing local content and encourages the use of clean-burning natural gas. The ASRPG plans to submit the recommended standards and practices document to State regulators and legislators in the Appalachian areas of operations, as well as the Interstate Oil & Gas Compact Commission (IOGCC), and the State Review of Oil and Natural Gas Environmental Regulations (STRONGER) to inform state regulatory frameworks and reviews. Additionally, the group plans to disseminate the document to important producer organizations such as the Marcellus Shale Coalition, America's Natural Gas Alliance, the American Petroleum Institute, West Virginia Oil and Natural Gas Association, Independent Petroleum Association of America, Independent Oil and Gas Association of West Virginia, Ohio Oil and Gas Association, and the Pennsylvania Independent Oil and Gas Association.
ASRPG's members are assessing options to periodically review and update the recommendations to reflect improvements in practices and technologies, and to effectively and systematically disseminate the recommendations to producers and stakeholders in the Appalachian region.
About the ASRPG:
ASRPG's mission is to identify and disseminate responsible standards and practices for effective environmental, health and safety practices utilized in shale natural gas and oil development operations in the Appalachian region. The ASRPG consists of the following participating companies: Cabot Oil & Gas Corporation (NYSE: COG): Cabot Oil & Gas, 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 Internet homepage at www.cabotog.com, (rest of list was removed) PDF Attachment Available: http://media.marketwire.com/attachments/201204/44703_ASRPGStandardsandPracticesDocumentApril302012.pdf
Attachment Available: http://www2.marketwire.com/mw/frame_mw?attachid=1966382

johnsyn

04/30/12 12:49 PM

Post #123

guy likes oil companies, includes commentary on Cabot http://seekingalpha.com/article/542741-atp-could-hit-a-gold-mine-with-new-ashkelon-gas-well?source=email_rt_article&ifp=0

johnsyn

04/30/12 8:05 AM

Post #122

new well completion (April 13): http://www.tulsaworld.com/business/article.aspx?subjectid=49&articleid=20120424_49_E4_hMonda918588

johnsyn

04/26/12 8:17 PM

Post #121

earnings call transcripts:
http://seekingalpha.com/article/533961-cabot-oil-gas-ceo-discusses-q1-2012-results-earnings-call-transcript?source=email_rt_article&ifp=0

Penny Roger$ Free

04/25/12 4:30 AM

Post #120

johnsyn

04/16/12 10:12 AM

Post #119

Cabot Oil & Gas Announces First Quarter 2012 Earnings Release Date and Conference Call

Today : Monday 16 April 2012
Cabot Oil & Gas (NYSE: COG) will release its first quarter 2012 financial and operating results on Wednesday, April 25, 2012.
A conference call with investors, analysts and other interested parties is scheduled for 9:30 a.m. ET (8:30 a.m. CT, 7:30 a.m. MT, 6:30 a.m. PT) on Thursday, April 26, 2012 to discuss first quarter 2012 operating results. You are invited to listen to the call which will be broadcast live over the Internet at www.cabotog.com.
A replay will be available at www.cabotog.com.
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 Internet homepage at www.cabotog.com.
FOR MORE INFORMATION CONTACTScott Schroeder (281) 589-4993

parrot head Free

04/13/12 9:00 AM

Post #118

Fracking Tied to Unusual Rise in Earthquakes in U.S.

http://www.bloomberg.com/news/2012-04-12/earthquake-outbreak-in-central-u-s-tied-to-drilling-wastewater.html

"A spate of earthquakes across the middle of the U.S. is “almost certainly” man-made, and may be caused by wastewater from oil or gas drilling injected into the ground, U.S. government scientists said in a study.

Researchers from the U.S. Geological Survey said that for the three decades until 2000, seismic events in the nation’s midsection averaged 21 a year. They jumped to 50 in 2009, 87 in 2010 and 134 in 2011.

Enlarge image
Oil Oklahoma Shane Bevel/Bloomberg
Oil pipelines feed into storage tanks in Cushing, Oklahoma.

Oil pipelines feed into storage tanks in Cushing, Oklahoma. Photographer: Shane Bevel/Bloomberg
Enlarge image
Earthquake Outbreak in Central U.S. Tied to Drilling Wastewater David McNew/Getty Images
An energy plant along the southern San Andreas earthquake fault near Calipatria, California. In northern California, engineers are drilling to great depths to force water into bedrock, a process that causes slippage and small earthquakes.

An energy plant along the southern San Andreas earthquake fault near Calipatria, California. In northern California, engineers are drilling to great depths to force water into bedrock, a process that causes slippage and small earthquakes. Photographer: David McNew/Getty Images
Those statistics, included in the abstract of a research paper to be discussed at the Seismological Society of America conference next week in San Diego, will add pressure on an energy industry already confronting more regulation of the process of hydraulic fracturing.

“Our scientists cite a series of examples for which an uptick in seismic activity is observed in areas where the disposal of wastewater through deep-well injection increased significantly,” David Hayes, the deputy secretary of the U.S. Department of Interior, said in a blog post yesterday, describing research by scientists at the U.S. Geological Survey.

‘Fairly Small’ Quakes
The earthquakes were “fairly small,” and rarely caused damage, Hayes said.

He said not all wastewater disposal wells induce earthquakes, and there is no way of knowing if a disposal well will cause a temblor.

Last month, Ohio officials concluded that earthquakes there last year probably were caused by wastewater from hydraulic fracturing for natural gas injected into a disposal well.

In hydraulic fracturing -- or fracking -- water, sand and chemicals are injected into deep shale formations to break apart underground rock and free natural gas trapped deep underground. Much of that water comes back up to the surface and must then be disposed of.

There’s “a difference between disposal injection wells and hydraulically fractured wells,” Daniel Whitten, a spokesman for the America’s Natural Gas Alliance, which represents companies such as Chesapeake Energy Corp. (CHK) and Cabot Oil & Gas Corp. (COG), said in an e-mail. “There are over 140,000 disposal wells in America, with only a handful potentially linked to seismic activity.”

‘Committed to Monitoring’
“We are committed to monitoring the issue and working with authorities where there are concerns, but it should be noted that currently there is no scientific data associating hydraulic fracturing with earthquakes that would cause damage,” he said.

An abstract of the federal study, which was led by William Ellsworth, Earthquake Science Center staff director for the U.S. Geological Survey in Menlo Park, California, was published online earlier this month. A full version of the study wasn’t immediately available.

The area studied included a swath of the country running from Ohio to Colorado and Oklahoma, the study said.

“A naturally-occurring rate change of this magnitude is unprecedented outside of volcanic settings or in the absence of a main shock, of which there were neither in this region,” Ellsworth and his colleagues wrote.

The Environmental Protection Agency is preparing to release rules on air pollution from gas wells and on the treatment of wastewater. Other state and federal rules could force more disclosure of the chemicals used by the drilling companies.

The Interior Department is considering rules to update well-design standards and require disclosure of the chemicals in fracking on public lands.

johnsyn

04/10/12 4:16 PM

Post #117

Cabot restores Marcellus shale gas production after fire
Cabot Oil & Gas Corp. has restored its Marcellus shale production in Susquehanna County, Pa., to predisruption levels following restart of the Lathrop Compressor Station, which was damaged by a Mar. 29 fire

johnsyn

03/30/12 11:46 AM

Post #116

11:36 AM Cabot Oil (COG +2.6%) and Williams Partners (WPZ +0.5%) say they are investigating damage at a Pennsylvania natural-gas compressor after a flash fire hit the structure yesterday. The fire ripped through a compressor station and quickly extinguished itself. The station seems to have borne the brunt of the damage, while the equipment and flooring inside remain intact.

johnsyn

03/17/12 10:40 AM

Post #115

Good News out over the continued saga of Penn greenies vs. Cabot:
09:33 PM 03/15/12

Fracking did not pollute water near homes-U.S.

* EPA says water safe at 11 homes

* Results from remaining 49 homes as soon as next week

* Arsenic found at 2 homes, more tests needed

By Timothy Gardner

WASHINGTON, March 15 (Reuters) - A first round of tests showed no evidence that water at 11 homes in a small town in Pennsylvania near natural gas drilling operations had been polluted to unhealthy levels, U.S. environmental regulators said on Thursday.

The Environmental Protection Agency said in January it would perform tests at about 60 homes in Dimock where residents have complained since 2008 of cloudy, foul-smelling water after Cabot Oil & Gas Corp began hydraulic fracturing, or fracking, for gas nearby.

Sampling results from the first round of 11 homes "did not show levels of contamination that could present a health concern," a regional EPA spokesman said in an email.

Samples from six of the 11 homes did show concentrations of sodium, methane, chromium or bacteria, but those results were all within safe ranges, the spokesman said.

Arsenic was found in the water at two of the 11 homes, but the agency determined those levels were also safe. The agency will retest the water at those two homes.

The EPA has been delivering fresh water to several homes in Dimock including three of the 11 homes. It will continue to provide water to those homes while it performs more sampling.

A Cabot spokesman said the company was pleased with the first round of results and it would continue to work with the EPA.

New drilling techniques such as fracking have revolutionized the U.S. natural gas industry by giving companies access to vast new reserves that could supply the country's demand for 100 years, according to the industry.

Environmentalists and health groups worry that some fracking operations near homes and schools pollute water and air. The industry denies that water supplies have ever been tainted by the technique.

As fracking operations grow in the United States, tensions are also rising between federal and state governments about monitoring potential pollution from drilling.

The EPA is conducting a national study to determine if fracking, in which companies blast large amounts of water laced with chemicals and sand deep underground to free natural gas and bring it to the surface, is polluting water supplies.

The agency said last week it would work with the state of Wyoming to retest water supplies after questions were raised about an EPA draft report showing that harmful chemicals from fracking fluids were likely present in a aquifer near the town of Pavillion.

The next round of results from Dimock could be out late next week, a spokeswoman said.

(Reporting by Timothy Gardner; Editing by Richard Pullin)

((timothy.gardner@thomsonreuters.com)(202-380-8348))

Keywords: USA EPA/FRACKING

For Reuters Top News page click the following link:

Thomson Reuters

johnsyn

02/24/12 8:20 AM

Post #114

CBS EVENING NEWS DID POSITIVE SPIN STORY ON FRACKING:
http://www.cbsnews.com/8301-18563_162-57384161/boom-times-are-back-in-okla-oil-production/?tag=cbsnewsTwoColUpperPromoArea

johnsyn

02/21/12 4:28 PM

Post #113

Cabot Oil & Gas' CEO Discusses Q4 2011 Results - Earnings Call Transcript
February 21, 2012 | about: COG Font Size:
Presentation Q&A Participants Search Read our transcripts disclaimer Executives

Dan O. Dinges - Chairman, Chief Executive Officer, President and Member of Executive Committee

Steven W. Lindeman - Vice President of Engineering & Technology

Scott C. Schroeder - Chief Financial Officer, Vice President and Treasurer

Unknown Executive -

Analysts

Brian Lively - Tudor, Pickering, Holt & Co. Securities, Inc., Research Division

Jeanine Wai - JP Morgan Chase & Co, Research Division

Gil Yang - BofA Merrill Lynch, Research Division

Pearce W. Hammond - Simmons & Company International, Research Division

Biju Z. Perincheril - Jefferies & Company, Inc., Research Division

Jack N. Aydin - KeyBanc Capital Markets Inc., Research Division

Unknown Analyst

Andrew Coleman - Raymond James & Associates, Inc., Research Division

Cabot Oil & Gas (COG) Q4 2011 Earnings Call February 21, 2012 9:30 AM ET

Operator

Good day, and welcome to the Cabot Oil & Gas Corporation Fourth Quarter and Year End 2011 Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Dan Dinges, Chairman, President and CEO of Cabot Oil & Gas. Please go ahead.

Dan O. Dinges

Thank you, Valerie. I appreciate everybody joining us for this call. I have with me today, Scott Schroeder, our CFO; Jeff Hutton, VP of Marketing; Steven Lindeman, our VP of Engineering and Technology; Matt Reid, our VP and Regional Manager; and Todd Liebl, our newly appointed VP of Land and Business Development. Before I start, let me say that the forward-looking statements included in our press releases do apply to my comments today.

All right. At this time, we have many things to cover and expand on, particularly the press releases that were issued last night. I will briefly cover full year financial results, the results of our year end reserve analysis. I will discuss our outlook for Cabot, followed by a discussion of our operations in Pennsylvania, Oklahoma and Texas, including a brand-new takeaway project that we announced in the Marcellus. Before I go on the details of these topics, let me give you a couple of clip note of the 2011 for the company.

We grew production, 43.5%; grew reserves, 12% absolute or 22% pro forma taken in consideration asset sales. All-in company-wide finding costs of $1.21 per Mcf, including an all-in $0.65 per Mcf Marcellus finding cost figure. We had doubled the level of proved reserves associated with liquids. 2010 Marcellus wells, we revised up to 11 Bcf from 10 Bcf. Undrilled cut percentage is 36%, flat with 2010. Net income exceeded $100 million for the seventh consecutive year even with the lowest natural gas price realized in that same timeframe. And our debt levels were reduced year-over-year.

On the financial results. Cabot reported for 2011 clean earnings of $139 million with discretionary cash flow of about $549 million. The year experienced the lowest natural gas price since 2004. Fortunately, this was offset by the highest production growth recorded by Cabot. In terms of full year production, the company posted a 43.5% growth rate in 2011 compared to '10. This was driven by a 42.5% expansion in natural gas volumes, which was driven entirely by the Marcellus and a 68% growth in oil and liquid volumes.

From our organic program and net of asset sales, Cabot had another stellar year adding reserves to surpass 3 Tcf mark, just 2 years after reaching the 2 Tcf mark. Our oil and liquids reserve bookings contributed by doubling between 2010 and '11. However, the main driver of this growth was the Marcellus effort and the continued strength of this drilling program. As we have highlighted in previous presentations, we have wells that ranked as the top performers, included -- including released last week by Pennsylvania, 8 of the top 10 for cumulative production during the last 6 months of 2011.

For 2011, the typical 15-stage well has been booked at 11 Bcf, while the 2010 Marcellus program EUR average was raised to 11 Bcf from 10 Bcf. Also of note is Cabot did book a couple of wells with EURs in excess of 20 Bcf, creating a high watermark for Cabot and, most likely, the industry.

At the end of 2011, we adjusted our PUD portfolio removing the EUR in the Marcellus, moving the EUR in the Marcellus slightly higher to 7.5 Bcf for the representative 10-stage well. We also, once again, removed legacy PUD bookings throughout our portfolio, which were not in the queue for drilling, totaling 190 Bcfe. As result and as mentioned, our undrilled PUD reserves account for 36% of the totals with another 5% drilled but not yet frac-ed, and we have a 59% proved developed percent.

In terms of economics, the Marcellus finding cost of $0.65 per Mcf is a standout for the 2011 program. And considering the oil and liquids efforts by the company, the $1.21 per Mcf oil source number is also very competitive. As you're aware, the oil dollars are converted 6:1. Let me also recap with our 2011 program, what we are able to deliver.

Net of asset sales, legacy PUD removal and record production, which was about 600 Bcf, we had double-digit reserve growth, we had competitive finding cost and a debt-reducing program. Obviously, '11 being a good program, the question quickly moves to what are we going to do in '12 as an encore to '11?

Before I go into the operations report, I think it would be beneficial to review our thoughts on the macro environment and also discuss our rationale for capital allocation decisions. We are all aware of the supply-demand imbalance that exist today for natural gas. Our industry is starting to make adjustments by laying down rigs, reducing capital allocated to natural gas plays and throttling back on production growth expectations. Once gas is as good as another on the short-term, midterm effects on supply and the resolved effects of value per Mcf. Regarding demand, we continue to see evidence of natural gas increases in use in power generation, transportation considerations with ongoing expectations and applications for export opportunity. We experienced a no-show for the winter this year, which has left storage at a historic high and lingering concerns for 2012 prices. The industry has made a statement that current market prices will not yield sufficient returns for further capital allocation. Active leasing for natural gas plays is virtually 0. Some companies have elected to allow fringe acreage to expire instead of burning capital. Virtually every company now discusses its desire to allocate capital to liquid-rich plays, and Cabot is no exception to that. However, Cabot does have a large acreage position area in the Marcellus that continues to yield excellent returns at the current market rate. As evidenced by the most recent release by the PA environmental protection on well data, it remains evident that Cabot has the most robust position in the Marcellus. In fact, our internal rate of return exceeds many areas in the Permian, Bakken and Eagle Ford. Even with these results taken in consideration, the efficiencies we have gained in our drilling and completion operations and the fact that we continue to manage our primary term acreage, we are able to reduce our capital allocation to the Marcellus by about 15% to 20% or $100 million and still maintain a top-tier growth program of 35% to 50%. Again, I will mention that we are going to maintain our acreage -- all our acreage in the Marcellus. We've taken our foot off the pedal somewhat. Our value-added growth allows us to maintain financial discipline and our cash flow. This will have the effect of bringing our investment to within $50 million to $75 million of anticipated cash. I might add, we do feel the market correction for the price of natural gas has begun. With that said though, the pace of recovery is uncertain. And our 2012 program, we'll be allocating 40% to 45% of our capital to our liquids plays. It is not insignificant that we increased our oil production by 68% last year, and we expect to yet again experience greater than 55% increase in our oil production in '12. Though we're in a soft market for natural gas, as I mentioned, we do feel the floor has been found. As natural gas continues to increase, its share of energy demand across the U.S. and the world, I do like our position and expect Cabot to regain the returns it has recently lost in the market. And regard to hedging, the company added new oil hedges. Since our last report, the company has 31 contracts for 2012 production, including 27 contracts for gas at $5.22 and 4 contracts for oil at $99.30 and 7 contracts in 2013, 5 gas and 2 oil.

In the Marcellus, our results in Susquehanna continue to excel. During the fourth quarter, we achieved a new daily production record of 606 million cubic foot per day, which is 370 million cubic foot per day greater than year end 2010 and a ninefold increase from 2009 exit rates. The well results in Susquehanna continue to show why they're in a class of their own as we have highlighted in our release. Cabot added a new build rig, which brings us to a total of 5 rigs operating in Susquehanna. 2 of the 5 rigs are equipped with the latest technology and can run on natural gas as a fuel source. This is a system we will install and utilize when our CNG station becomes operational in May.

For the year, Cabot completed 904 frac stages, which is an increase of 71% from 2010. In the fourth quarter, we signed a new frac contract, which I mentioned previously, which will reduce our frac cost by more than 30% with even further reductions on all stages after 60 stages are accomplished in a given month. In the initial 2 months of operations, this new crew completed 82 stages and 92 stages, respectively. Currently, we have 198 stages completing, cleaning up or waiting to be turned in line and an additional 326 stages waiting to be completed.

To help manage capital, our plan is to reduce our well count in the Marcellus by approximately 10 wells, and with no price improvement, we will reduce our rig count to 3 rigs in the Marcellus by the end of the year. Additionally, we will attempt to maximize our frac completion level to take advantage of the most efficient dollars from our new contract, working off our backlog and completing newly drilled wells. Again, I will mention that we do plan on maintaining all of our acreage.

2011 was a tremendous year in terms of the infrastructure buildout for us. During the year, we added significant capacity with the final completion of the Lathrop station to Teel station upgrade and the initiation of volumes into Laser Pipeline. In early '12, we commenced deliveries into the Springville line, completing our initial plans for flexibility and diversification of our markets. In fact, today, approximately 50% of our volumes are currently flowing into Transco, 10% of our volumes are flowing into Millennium and 40% are flowing into Tennessee. The remainder of '12 will be focused on completing our current plan for additional takeaway projects we have previously reported.

Our lead projects are classified as work-in-progress. There have been continual changes, some positive, some negative as the plant completion date move around. Let me be clear, the environment surrounding infrastructure buildout is both dynamic and challenging with ever-changing rule book and policy changes. We do intend to update you on new compressor stations, new pipeline and upgrades to existing facilities throughout the year as we place them into service. However, as of right now, the plan for exiting 2012 with approximately 1.5 Bcf of takeaway capacity remains our expectation. That said, we will -- we also reported this morning, a joint venture with Williams Partners LP to develop and construct a new high-pressured pipeline to serve both New York and New England markets through their Transco affiliate. Cabot will own 500 million per day capacity on the new constitution pipeline. This pipeline for the future is our next major step for development of our Marcellus resource, and will ensure that Cabot's production will reach the most constrained demand area in the country. We expect the market to be fully supportive of this new link between the Marcellus and our customers operating area throughout the Northeast. Specifically, the pipeline will move gas from our central compressor station in Susquehanna County to Iroquois Gas Transmission and onto the Tennessee Gas Pipeline 200 line.

Although the in-service date is anticipated early in 2015, we feel this timing is ideal as we internally plan for the future growth of Cabot. Cabot will be an investor in this project for a 25% equity interest valued at $175 million to $200 million. Again, most of this expense will be coming in years '14 and '15. The northern part of our acreage where we've done some drilling, our reserve report has limited information included as it relates to the wells drilled in the, what we'll call, the Laser or northern portion. If you recall during the last 2 months of '11, the Laser Pipeline was placed in service only to be shut-in with miscellaneous startup in operational challenges. Those challenges were partly due to some water production that made its way into the system by other operators. As we have stated before, the northernmost area of our acreage position gets slightly shower and begins to thin from the top of the section down. This spending is relative, however, as the section is still over 200-foot thick. Additionally, several large traverse faults go across this area. About 10% to 12% of our acreage falls in this more complex geology. We think this area is going to require greater attention to our lateral placements than the area to the south in order for us to deliver more efficient fracs to the entire length of lateral. Though it's still early in our drilling and completion efforts in the northern part, we do feel the wells in this area will yield similar to the performance we reported by other operators in other portions of the state.

Moving south from this complex fault area, you quickly get away from the concern of lateral placements and any issues. In regard to spacing, Cabot commissioned a third party to determine, among other things, the optimal well development spacing for the Marcellus and our Susquehanna area. This team was selected based on their experience, completing similar studies for the major North American shale plays, in addition to their experience in the Marcellus. This study evaluated log information, core data, micro size data, reservoir pressure data and well production volumes and flowing pressures. In fact, the fiscal model was generated, the resulted data was subsequently input into a stimulation -- in simulation model and a history match was generated based on wells producing in the study area. Once validated, multiple simulations were generated to determine the optimum well spacing. The result of this analysis determined that wells in the lower Marcellus may be optimally spaced at a distance of approximately 1,000 feet between laterals, which will allow for an upper Marcellus well to be drilled at a distance of 500 feet away from each lower Marcellus lateral in an inverted V pattern. Cabot is currently drilling a pilot program to test the simulation results. The wells will be TD-ed and completed by the end of the second quarter. However, 6 months to 1 year of production and pressure data will be required to determine if the effectiveness of the pilot program is working and evaluate all the study results. The total number of locations, based on this study, is about 3,000 Marcellus and Purcell wells. Also with a little over 100 wells producing today, there remains tremendous upside and many years of inventory to contribute to our existing and planned takeaway projects, including, of course, our new pipeline to the Northeast.

Now let me move to the South area, in our Buckhorn area and the Eagle Ford. The company has drilled a total of 28 wells. Each well is 100% working interest well and they realize in Frio, La Salle and Atascosa Counties. 27 of these wells are in production with one well waiting on completion and one well, drilling. As we gather information results, we realize how much additional running room we have. Some of the positives from our ongoing study are a 26% increase in booked EURs in our 2011 program versus our 2010 program, a 34% increase in EUR per foot of lateral drill, a 23% increase in our maximum peak production rate and near sevenfold increase in gross oil production from the Eagle Ford. Recent well highlights include the last 7 wells, all in the fourth quarter, averaged 24-hour peak rate was 861 BOE per day with these 3 wells over 1,000 BOE -- excuse me, the 24-hour rate was 861 BOE, with the 3 wells being over 1,000 BOE. The 30-day average of all these wells was 566 BOE. In our AMI area with EOG, there are 9 wells presently on production in this 18,000-acre area with the last 3 wells testing at peak rates that averaged over 1,000 BOE per day. Gross production from both areas in the Eagle Ford is approximately 7,600 BOE per day. Cabot intends to drill or participate in approximately 25 to 30 net Eagle Ford wells in 2012 as was highlighted last week by peer in several pairs, in fact, and in our operations release, Cabot is testing downspacing in the Eagle Ford down to 50 acres at this time.

In the Marmaton, Cabot's progress in the Marmaton, Beaver County, Oklahoma play continues with 3 operated wells on production with an average 24-hour production rate of 429 BOE per day. Our fourth operated well is flowing back after frac, with our fifth operated well completing and a sixth well drilling. Also Cabot has participated in 12 non-operated wells, of which 9 are producing, 2 are drilling and 1 is completing. Our average working interest in these wells is 15.3% with an average NRI of 12.1%. With the limited capital plan we have this year and the enhanced results we're seeing in the Eagle Ford, we are planning to use 2 rigs in the Eagle Ford and move the Marmaton rig south, while we schedule and permit additional wells in the areas we are seeing the most extensive fracturing in our Marmaton play. Just a quick comment on the Brown Dense, we have just begun flowing back our well there and have no additional information than that.

2,000 plans in closing, Cabot's operations remain fairly simple. We will continue to focus our gas efforts solely in the Marcellus and allocate dollars in the oil window of the Eagle Ford, which will drive our dollar double-digit growth in reserves and production year-over-year, and all still within 5% to 10% of anticipated cash flow. Valerie, with that executive summary, I'll stop and be happy to answer any questions.

johnsyn

02/21/12 9:19 AM

Post #112

Cabot Oil & Gas Corporation Announces New Joint Venture Pipeline
Cabot Oil Gas (NYSE:COG)

HOUSTON, Feb. 21, 2012 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced a new Joint Venture with Williams Partners L.P. (NYSE: WPZ) to develop and construct a large diameter pipeline, specifically designed to transport Cabot's Marcellus production to both the New England and New York markets. Deemed the "Constitution Pipeline" this high pressure pipeline will be capable of moving at least 500,000 Mcf per day from the heart of Cabot's Marcellus acreage in Susquehanna County, PA to interconnect with both Iroquois Gas Transmission and Tennessee Gas Pipeline in Schoharie County, NY. Williams Partners will be a 75% owner and, through its affiliate, will operate the pipeline, while Cabot will retain a 25% equity position. Cabot's commitment to firm transportation representing the initial design capacity of the pipeline is sufficient to enable the project to go forward subject to receipt and acceptance of the necessary regulatory approvals. The initial in service date for the system is slated for March 2015.

"This pipeline is truly the next big step of our capacity expansion program and positions us with access to the premium New England and New York marketplace that has historically been constrained from both a lack of reliable supply and pipeline infrastructure," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "We see this pipeline playing an important role in the future development of our world class resource that will bring a reliable and dependable long term natural gas supply into an expanding premium market which for years has been searching for that fundamental supply link. As we move forward as a country and progress towards true energy independence, just consider what positive possibilities exist with our Marcellus production entering both a constrained demand area and an area hungry for development, especially in the power generation industry."

Dinges added, "The vast majority of our investment in the pipeline will be contributed during the 2014 and early 2015 time frame, when the macro environment for gas will benefit from new gas power generation and the potential for export. Additionally, we expect to be producing multiples of our current production volumes at that time."

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 Internet 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 CONTACTScott Schroeder (281) 589-4993

SOURCE Cabot Oil & Gas Corporation

Penny Roger$ Free

02/18/12 5:01 AM

Post #111

~ Monday! $COG ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $COG ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.

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Finviz: http://finviz.com/quote.ashx?t=COG
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http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

johnsyn

02/16/12 5:45 PM

Post #110

Federal frac rules could lead to national standards, Salazar says
WASHINGTON, DC, Feb. 15
02/15/2012
By Nick Snow
OGJ Washington Editor

US Sec. of the Interior Ken Salazar told the US House Natural Resources Committee that regulations covering hydraulic fracturing on federal lands are necessary, and will be developed after full consultations with state and Indian tribal governments. Proposals will go through a full federal rule-making process and possibly could provide a template for national standards, he suggested.

Federal onshore fracing regulations are necessary because 99% of gas wells now being drilled on public lands use fracing and horizontal drilling, he said during an appearance to discuss Interior’s fiscal 2013 budget request.

“There also are many in the industry who have spoken to me that they’d rather have a standard they can follow from state-to-state,” he continued. “I always hear from them that they don’t like to deal with a patchwork of regulations. Ours will deal only with the federal estate, but it could provide a template for possible national standards.”

Federal onshore regulatory proposals that have been circulated the past couple of weeks were from a very early US Bureau of Land Management draft, Deputy US Interior Sec. David J. Hayes noted. Interior wants to make certain that information about ingredients used in the process is readily available, but it also does not want to duplicate what several states already have done as well as the Interstate Oil & Gas Compact Commission and Groundwater Water Protection Council’s Frac-Focus voluntary registry, he said.

“We support gas development. The administration has included it as a high priority from Day 1,” Salazar said. “We have supported leasing to produce gas from public lands, but we also need to address public’s concerns that fracing can be done safely. There will be commonsense rules that, at the end of the day, will support gas development.”

OCS, oil shale

Committee Republicans also raised questions about DOI’s draft proposed 2012-17 US Outer Continental Shelf program, and the draft programmatic impact statement it issued on Feb. 3 for federally administered oil shale and tar sands acreage in Colorado, Utah, and Wyoming. They called for reconsideration of both.

“The administration's [proposed OCS] plan effectively reinstates the drilling moratoriums that were lifted in 2008 by Congress and the president when gasoline prices soared to over $4/gal,” committee chairman Doc Hastings (R-Wash.) said in his opening statement. “By locking up the Atlantic, Pacific, and parts of the Arctic, the Obama administration is forfeiting the production of new American energy, the creation of over a million new American jobs and the generation of new revenue.”

Salazar said the current 5-year OCS draft proposal would involve 75% of currently available OCS acreage, and warned that trying to expand leasing into new areas to fund bridge and highway repairs, as a House bill proposes, would create “a phantom revenue source” because money would not be available for several years if it went forward.

When committee member Rob Bishop (R-Utah) said claims that technology does not exist to produce oil from oil shale ignore the fact that Estonia has been doing it for 100 years, Salazar said that the technology does not exist to produce it in the three US states while protecting scarce water resources.

“When I look at how water supplies are declining, the reality is that if billions of acre-feet are required to develop oil shale, there’s no certainty that [the water] will be there,” the secretary said. “I think we need to determine it will be before we engage in a giveaway to major oil companies.” The draft programmatic EIS did not affect research and development activity, but simply withdrew land for commercial leasing until the right technology can be developed, he added.

Contact Nick Snow at nicks@pennwell.com.

johnsyn

02/14/12 5:20 PM

Post #109

White House retains oil tax increases in proposed 2013 budget
WASHINGTON, DC, Feb. 13
02/13/2012
By Nick Snow
Washington Editor OGJ

US oil and gas producers’ federal taxes would climb by nearly $27 billion over 10 years under the Obama administration’s budget proposal that was released on Feb. 13.

The proposed fiscal 2013 budget called for repeals of intangible drilling cost expensing, percentage depletion for oil and gas wells, the tertiary injectant deduction, and the exception to passive loss limitations for working interests on oil and gas properties.

The administration also proposed increasing the geological and geophysical amortization period for independent producers to seven years.

US-based multinational oil companies would be affected by a proposal to raise $10.72 billion over 10 years by modifying rules for dual capacity taxpayers, while domestic producers’ expenses on federal acreage would rise with proposed onshore drilling permit processing fees, offshore inspection fees, and fees for not meeting lease development deadlines.

Oil and gas industry leaders immediately criticized the proposals. “The president’s 2013 budget plan returns to the well of bad ideas and backtracks on his state of the union commitment,” American Petroleum Institute President Jack N. Gerard said. “Instead of advancing constructive pro-development policies, his budget plan calls for increased taxes on America’s oil and gas industry.”

“The Obama administration’s proposed budget piles additional roadblocks to US oil and gas development in the form of hiked royalty payments and increased user fees for producers operating on federal lands,” observed Virginia B. Lazenby, chairman of the Independent Petroleum Association of America and chief executive of Bretagne LLC in Nashville, Tenn.

Hardly ‘all of above’

“This attempt to restrict federal land access flies in the face of President Obama’s promise for an ‘all-of-the-above’ energy strategy,” she maintained. “After all, federal lands have seen the fewest number of onshore leases since 1984.”

American Fuel & Petrochemical Manufacturers Pres. Charles T. Drevna said, “It’s disappointing that President Obama is once again proposing to bar companies that produce oil and gas, and that manufacture fuels and petrochemicals from taking the same business tax deductions as other industries.”

The nation would benefit if the administration opened more areas to oil and gas production, reduced harmful overregulation that is raising fuel costs, and approved the Keystone XL pipeline, Drevna said.

Brian M. Johnson, a senior tax advisor at API, confirmed that modification for dual capacity taxpayers was the single biggest issue for US-based oil and gas multinationals in the White House’s fiscal 2013 budget request.

“It essentially would result in double taxation of US-based businesses by denying us full use of the foreign tax credit,” he told OGJ. “In a company like Qatar, where the generally applicable domestic rate is 10%, US companies would not be able to claim the entire 35% rate they pay.”

DOI agencies

The proposals also included $368 million in funding for the US Bureau of Ocean Energy Management and Bureau of Offshore Safety & Environmental Enforcement, the two US Department of the Interior agencies formed in the restructuring of the US Minerals Management Service after the 2010 Macondo deepwater well incident and crude oil spill.

BSEE would receive $222.2 million offset by $125.9 million in collected inspection fees, rental receipts, and cost recovery fees. BOEM would receive $164.1 million to implement the 2012-17 US Outer Continental Shelf program and hold the program’s first offshore oil and gas lease sale during fiscal 2013’s first quarter.

“Results matter, and sustained investments in these agencies are paying off,” US Interior Secretary Ken Salazar said during a teleconference with reporters. “Onshore, the amount of natural gas produced from federal lands was the second-highest since 1994, and oil production was the highest since 1997. Offshore, US crude oil production reached its highest production level since 2005. Gas production also has increased, and US oil imports continued to fall.”

The budget request also proposed $45 million for the US Department of Energy, US Environmental Protection Agency, and US Geologic Survey to jointly examine potential health, safety, and environmental risks from hydraulic fracturing. “I think the best thing we can do is to stand up the natural gas industry, as the president has proposed, and support it by making sure that fracing doesn’t create environmental or water quality problems,” Salazar said. “Natural gas is a very important part of the nation’s energy portfolio. The science we’ll get from USGS will make sure the gas we recover by fracing is produced safely.”

The US Bureau of Land Management would impose inspection fees on oil and gas producers to raise $48 million in collections, offsetting a $38 million reduction in appropriations for a net $10 million increase. BLM said that the increase was aimed at correction deficiencies which the Government Accountability Office identified in a February 2011 report which designated management of federal oil and gas resources, including production and revenue collections, as high risk.

Other BLM plans

BLM also is requesting $15 million to implement sage grouse conservation and restoration measures to help prevent the bird’s future listing as an endangered species, and proposes continuing to charge fees for processing onshore drilling permits to raise $32.5 million.

The Office of Natural Resources Revenue, which was formed after Salazar ordered revenue and royalty collection spun off from the old MMS, would get $119.6 million, $191,000 above the enacted fiscal 2012 level.

At the US Department of Transportation, the US Pipeline and Hazardous Materials Safety Administration’s budget would climb to $248 million in fiscal 2013 from $160 million in 2011, partially offset by pipeline fees which would rise to $167 million from $90 million. PHMSA would use the money to more than double the number of pipeline inspectors over 3 years, modernize pipeline data collection and analysis, and expand public education and outreach, the White House said.

“We have closed a record number of enforcement orders for the past three years, but we have more work to do to,” PHMSA Administrator Cynthia Quarterman said. “The 2013 budget request will help build upon these efforts to protect communities and increase oversight over the commercial transportation of hazardous materials by air, rail, vessel, highway, and pipeline.”

Contact Nick Snow at nicks@pennwell.com

unlimitedh Free

02/04/12 10:30 AM

Post #108

I sold friday morning, but i will buy again in a little dip , if it gets one

johnsyn

02/03/12 7:15 PM

Post #107

Iran is Now a Full-Blown Crisis
by Dr. Kent Moors

Dear Oil & Energy Investor,

Just when it looked like we could take a breather from the Strait of Hormuz, all attention is back on Iran.

There are three reasons for this - all happening within the last 24 hours.

1.First was Tehran's successful launch of a satellite, viewed by all in the region as being for military intelligence.
2.Second, in his toughest talk to date, Iranian Supreme Leader Ayatollah Ali Khamenei voiced defiance to Western sanctions and pledged open retaliation if they are instituted.
3.Finally, yesterday morning, U.S. Secretary of Defense Leon Panetta expressed concern that, if matters continue, Israel could attempt an air strike takeout of Iranian nuclear facilities within a month. Iran has been frantically moving essential components of its nuclear program underground to withstand such an attack.
All of this is, once again, leading to a rise in crude oil prices.

This morning, crude had been rising three times quicker in Europe (Brent benchmark rates) than on the NYMEX (West Texas Intermediate, or WTI, benchmark rates).

The real focus is on Brussels.

The E.U. decision to stop importing Iranian crude starting July 1 will cripple any chance Tehran has to combat escalating economic and political turmoil at home. Yet Khamenei's defiant tone during his Friday prayer meeting speech indicates that Iran's religious leadership will not wait for the system to unravel.

And that makes this both a full-blown and an intensifying crisis.

So what's being done?

Washington has little effective leverage, save its ability to temper an immediate escalation by Israel (leverage the U.S. can still apply, at least for the moment). It also has some indirect influence on what the E.U. does.

Meanwhile, Saudi Arabia also is a wild card. It will not tolerate a nuclear Iran.

And yes, there are ample indications that American and Israeli intelligence have concluded Iran will achieve the ability to develop nuclear weapons in the next 18 to 24 months.

Some elements of that process will be available earlier, but remember: A weapon is of little value unless it can be controlled and delivered. The logistical and infrastructure considerations need to be in place first.

Yet with such an inevitable conclusion staring them in the face, the West has decided to embark on a risky path...

The target here is not the nuclear project at all (over which there is less and less outside control). Instead, it has become about creating massive domestic instability to bring down a regime.

Now, this is not about ending the theocracy. With or without Mahmoud Ahmadinejad as president or Ali Khamenei as supreme leader, Iran will remain a Shiite-dominated country. Religion decisively controls politics, and the clergy oversees the society.

The West is seeking a more moderate application of what will remain the Iranian cultural reality.

However, as the brinksmanship intensifies, so will the price of crude oil. Tehran, in this dangerous game of international chicken, really only has one card to play - the Strait of Hormuz.

There has been much misinformation circulated about the strait. Here are the facts.

On any given day, 18% to 20% of the world's crude oil passes through it. The narrowest point measures barely two miles across.

Of greater significance, though, is the fact that most of the world's current excess capacity is Saudi. (This is the oil that can be brought to market quickly to offset unusual demand spikes or cuts in supply elsewhere.) And, unfortunately, Saudi volume must find its way through the same little strait.

If we're unable to access the Saudi excess, that loss guarantees the global market will be out of balance. That will intensify the price upsurge - an upsurge that is already happening.

Now for the question I'm being asked several times a day in media interviews...

Just How Bad Can It Get?
If Iran closes the Strait of Hormuz, crude oil prices will pop by between $30 and $40 a barrel... within hours.

johnsyn

02/01/12 12:05 PM

Post #106

AND WELCOME, LIMIT

johnsyn

02/01/12 12:03 PM

Post #105

Re: #104: @unlimitedh - Johnysyn, i saw an OUTPERFORM for this stock

Well, I'm not a zillionaire, nor have a crystal ball.
However, it should head back up once things calm down over the lastest lawsuit threats and settlements over contaminated water.
They will NOT get shut down, they'll pay fines and pay off the "victims", but they still will have 200% growth over the next 5 years.
Don't forget, they just did stock split, so this -25% fallout over the water issues, in addition to investors selling off their doubled shares, just makes it a good buy time at a nice discount.

unlimitedh Free

02/01/12 10:08 AM

Post #104

Re: #103: @johnsyn - Goodie, three cheers for union workers and what

Johnysyn, i saw an OUTPERFORM for this stock in Zacks. what do you think this one will go ?

johnsyn

01/31/12 8:58 AM

Post #103

Goodie, three cheers for union workers and what they do for prices of anything (BOLD in previous post). Enjoy what this threat of strike does to gasoline prices! Oh wait, it already did, pushed it up $1.86!

johnsyn

01/31/12 8:56 AM

Post #102

•Mar crude oil prices this morning are up +$1.40 a barrel and Mar gasoline is +1.86 cents per gallon. Crude oil and gasoline prices on Monday fell back and settled lower as the dollar strengthened, stocks fell and concerns grew that Greek debt-swap talks will falter and lead to default, which may weaken the European economy: CLH12 -$0.78, RBH12 -5.07. Bearish factors included (1) strength in the dollar, which discourages investment demand in commodities, (2) the slump in the S&P 500 to a 1-week low, which reduces confidence in the economic outlook and energy demand, (3) concern that Greek bailout negotiations will falter and lead to a Greek default, which may slow European economic growth and fuel demand, (4) the weaker-than-expected Dec U.S. personal spending, which bolsters concern that economic growth and fuel demand will slow, and (5) comments from OPEC Secretary General Abdalla El-Badri who said global oil markets are "very well supplied." Bullish fa ctors included (1) comments from the United Steelworkers Union that strikes at U.S. oil refineries may be imminent as negotiations near a Feb 1 deadline, which would reduce U.S. gasoline supplies and (2) the report from the Fars news agency that said Iran's parliament drafted legislation calling for the government to halt oil exports to Europe until the EU cancels its planned ban on Iranian crude. BARCHART.COM

johnsyn

01/27/12 11:56 AM

Post #101

Goldman Sachs expects Brent crude to average $120 in 2012 but end the year high at $127 per barrel, a 14% increase over Brent crude's current price of $111 per barrel (WTI crude oil is just below $100 a barrel). While its expectation is only 13% higher, Goldman believes oil has "massive upside price risk relative to our target."

johnsyn

01/27/12 8:50 AM

Post #100

CITIGROUP has already jumped in and called COG a BUY.

johnsyn

01/27/12 8:50 AM

Post #99

•Mar crude oil prices this morning are up +22 cents a barrel and Mar gasoline is +1.62 cents per gallon. Crude oil and gasoline prices on Thursday settled higher after U.S. durable good orders rose more than expected and the dollar declined: CLH12 +$0.30, RBH12 +1.34. Mar gasoline rallied to a 3-1/4 month high. Bullish factors included (1) the slump in the dollar index to a 1-1/2 month low, which boosts investment demand in commodities, (2) the larger-than-expected increase in Dec U.S. durable goods orders, which signals economic strength that is beneficial for energy demand and consumption, and (3) strength in gasoline on potential supply shortages on the U.S. East Coast after the recent shutdown of Pennsylvania refineries by Sunoco and ConocoPhillips and the closure of the St. Croiz refinery by Hovensa LLC. Bearish factors included (1) the announcement by Libya's National Oil Corp. that Libya's crude production had increased to 1.3 million barrels a day on Jan 25 fr om 1.0 million barrels a day last month and (2) concerns over the sustainability of U.S economic growth after Dec U.S. new home sales unexpectedly declined and Dec leading economic indicators rose less than expected. BARCHART.COM

johnsyn

01/26/12 11:44 AM

Post #98

Cabot Oil & Gas Corporation Comments on EPA Decision

HOUSTON, Jan. 26, 2012 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that its Chairman, President and Chief Executive Officer, Dan O. Dinges, sent a letter to the United States Environmental Protection Agency (EPA) Administrator Lisa Jackson regarding the decision of the Agency to initiate a water sampling program in Dimock Township, Pennsylvania. While Cabot is committed to working with the community and with regulators at all levels, it appears as though the EPA's decision is politically motivated and not based on a legitimate desire to address environmental concerns. The letter to the EPA today is consistent with statements from the Pennsylvania Department of Environmental Protection that termed the EPA's understanding of the Dimock situation as 'rudimentary.' We look forward to assisting the EPA as it refines its thinking regarding Dimock through better understanding of local geology, practices, and water quality. For text of the letter, visit the Company's Internet homepage at www.cabotog.com.

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 Internet homepage at www.cabotog.com.

FOR MORE INFORMATION CONTACTScott Schroeder (281) 589-4993

johnsyn

01/26/12 11:44 AM

Post #97

COG did it's stock split, yesterday, portfolios should now show double shares for those who bought in time.

johnsyn

01/26/12 8:43 AM

Post #96

•Mar crude oil prices this morning are up +$1.24 a barrel and Mar gasoline is +1.21 cents per gallon. Crude oil and gasoline prices on Wednesday settled higher after the dollar slumped when the Fed said its will extend its record low interest rates and on gasoline supply concerns after Hess Corp. said it will close its gasoline-making Port Reading refinery for repairs: CLH12 +$0.45, RBH12 +2.69. Mar gasoline rallied to a 3-1/4 month high. Bullish factors included (1) weakness in the dollar after the Fed said that interest rates will stay low until at least 2014, extending its earlier pledge that rates would stay low through at least 2013, (2) strength in gasoline after Hess Corp said it will close its gasoline-making Port Reading refinery in New Jersey for repairs, which will tighten gasoline supplies on the U.S. East Coast, (3) the unexpected -390,000 bbl decline in weekly DOE gasoline inventories, weaker than expectations of a +2.0 million bbl build, (4) the -2.8% w/ w drop in U.S. gasoline production to 8.54 million bbl for the week ended Jan 20, the lowest gasoline output in nearly 2 years, and (5) the larger-than-expected fall in the weekly U.S. refinery utilization rate to its lowest in 8-1/2 months (-1.5 to 82.2% versus expectations of -0.6 to 83.1%), which indicates diminished output of gasoline and distillates in the weeks ahead. Bearish factors included (1) the larger-than-expected increase in weekly DOE crude supplies (+3.56 million bbl versus expectations of +1.5 million bbl) and (2) comments from a person familiar with OPEC's policy who said OPEC members would replace any loss in supply caused by the EU's ban on crude imports from Iran. BARCHART.COM

johnsyn

01/25/12 3:18 PM

Post #95

SOTU: Obama pledges to open more offshore acreage, promote gas
US President Barack Obama will direct his administration to open more than 75% of the nation’s potential offshore oil and gas resources for development, he said in his 2012 State of the Union address.
Oil & Gas Journal daily update

(Uh-huh, and I've got a bridge to sell you)

dav1234

01/23/12 11:18 AM

Post #94

nice bounce!

johnsyn

01/23/12 8:28 AM

Post #93

•Mar crude oil prices this morning are up +86 cents a barrel and Mar gasoline is +1.27 cents per gallon. Crude oil and gasoline prices Friday settled lower after a preliminary reading of Chinese manufacturing activity contracted for a third month in Jan and as Greek debt talks dragged on for a third day, which fueled concern the European debt crisis may worsen and slow European growth and fuel demand: CLH12 -$2.21, RBH12 -3.25. Bearish factors included (1) the stronger dollar, which undercuts most commodities, (2) the +0.1 increase in the Jan HSBC flash China manufacturing PMI to 48.8, which indicates Chinese manufacturing activity may contract for a third month and reduce energy demand and consumption, (3) concern the European debt crisis may not be resolved anytime soon as a meeting between Greek officials and private creditors on a debt swap plan failed to resolve their differences after a third day of meetings, and (4) comments from IMF Managing Director Lagarde who said the world economy is decelerating and faces "significant and urgent challenges." Bullish factors included (1) the increase in Dec U.S. existing home sales to an 11-month high, which signals economic strength that may lead to increased fuel demand and (2) ongoing tensions between Iran and Western nations that may lead to a disruption in Middle East oil exports after Iran's ambassador to Russia said the deployment of the U.S. Navy in the Persian Gulf is a "provocation." BARCHART.COM

johnsyn

01/21/12 9:55 AM

Post #92

http://www.ogj-digital.com/ogj/20120123/?pg=23&pm=2&u1=friend

johnsyn

01/20/12 10:14 AM

Post #91

LOL, not even close, should have called themselves Cabot Gas:
Cabot Oil & Gas Corporation is focused on developing low risk, repeatable drilling opportunities across North America. As of December 31, 2010 the Company had approximately 2,701 Bcfe of total proved reserves, including substantial shale holdings and conventional horizons. Cabot’s activity focuses on the Marcellus shale in northeast Pennsylvania and on multiple plays including the Haynesville and Eagle Ford shales in Texas.

Approximately 98% of Cabot’s reserves and 96% of Cabot’s production is natural gas.

dav1234

01/20/12 9:46 AM

Post #90

Re: #89: @johnsyn - That is true. Natural Gas is COG's bread

Cool,i thought they were.majority oil, whats the split? 5050?

johnsyn

01/20/12 9:41 AM

Post #89

Re: #88: @dav1234 - Thanks,getting a few more near 62, guess nat

That is true. Natural Gas is COG's bread and butter.

dav1234

01/20/12 9:40 AM

Post #88

Re: #87: @johnsyn - ALSO, WELCOME to COG thread.

Thanks,getting a few more near 62, guess nat gas weakness not helping,lol

johnsyn

01/20/12 9:38 AM

Post #87

Re: #81: @dav1234 - howdy, bought some today, avg. just under 63,recovery

ALSO, WELCOME to COG thread.

johnsyn

01/20/12 9:36 AM

Post #86

•Feb crude oil prices this morning are down -62 cents a barrel and Feb gasoline is -0.30 of a cent per gallon. Crude oil and gasoline prices Thursday settled lower on weak gasoline demand and after weekly DOE gasoline supplies rose more than expected to a 10-month high: CLG12 -$0.20, RBG12 -0.96. Bearish factors included (1) the larger-than-expected increase in weekly DOE gasoline supplies to their highest level in 10 months (+3.72 million bbl to 227.5 million bbl versus expectations of +2.35 million bbl), (2) slack demand after the DOE said U.S gasoline demand for the week ended Jan 13 fell -2.2% to 8 million barrels a day, the weakest in over 10 years, and (3) the weaker than expected Dec U.S. housing starts and Jan Philadelphia Fed manufacturing activity, which indicates reduced energy demand. Bullish factors included (1) the slide in the dollar index to a 2-week low, (2) the unexpected decline in weekly DOE crude supplies (-3.44 million bbl versus expectations of a +3.0 million bbl build), and (3) signs of strength in the labor market that may boost economic confidence and fuel demand after weekly initial U.S. unemployment claims fell to a 3-3/4 year low. BARCHART.COM