Cabot Oil & Gas

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Cabot Oil & Gas Corporation
Type Public
Traded as NYSECOG
S&P 500 Component
Industry Oil and gas industry
Founded 1989 (1989)
Headquarters Houston, Texas, United States
Key people

Dan O. Dinges, Chairman, CEO, & President, Chuck Laughlin, Directors:

Rhys J. Best, David J. Morris, Dan O. Dinges, James R. Gibbs, Robert L. Keiser, Robert Kelley, P. Dexter Peacock, William P. Vitito, Jason A. Smith
Revenue Increase US$1.75 Billion (FY 2013)[1]
Operating income Increase US$550 Million (FY 2013)[1]
Net income Increase US$280 Million (FY 2013)[1]
Employees 589 (2013)
Website www.cabotog.com

Cabot Oil & Gas Corporation is an independent petroleum and natural gas exploration and production company based in Houston, Texas (United States).

Cabot Oil & Gas Corporation produced 2.8 million barrels (445,000 m³) of oil and 71 billion cubic feet (2 km³) of natural gas in 2003. The company has operations in three areas in the continental US, the Texas Louisiana Gulf coast region, the east coast (onshore) and the west in the Rocky mountain states. The CEO of Cabot Oil & Gas Corporation is Dan O. Dinges. The profit goes primarily to the major share holders with the rest being used for research and development and acquisition of new oil fields.[citation needed]

At the close of trading on June 20, 2008 the company was added to the S&P 500 stock index.[2]

Cabot has major holdings in the Marcellus Shale gas play in northeastern Pennsylvania. The company has been cited for numerous violations in regard to spills of toxic hydro-fracking fluids in Northeastern Pennsylvania.[3][4] To view Cabot Oil & Gas wells and violations visit FrackTrack [5]

Cabot is also active in the Marmaton Formation oil play in Oklahoma.[6]

Lawsuits[edit]

In January 2014, Cabot sought, and a judge granted, a temporary injunction barring anti-fracking activist Vera Scroggins from entering on any land in Pennsylvania owned or leased by Cabot. "In total, 312.5 sq miles are no-go areas for Scroggins under a sweeping court order granted by a local judge that bars her from any properties owned or leased by one of the biggest drillers in the Pennsylvania natural gas rush, Cabot Oil & Gas Corporation." It was noted by Cabot during court testimony that Scroggins had violated no laws and that this lawsuit was based on her being considered a "nuisance" due to her reporting and activism at Cabot sites.[7]

References[edit]

  1. ^ a b c Cabot Oil and Gas' annual income statement via Wikinvest
  2. ^ http://www2.standardandpoors.com/spf/pdf/index/athulathmudalilalith.pdf Standard & Poors (PDF)
  3. ^ http://thetimes-tribune.com/news/cited-for-chemical-spills-cabot-oil-reports-another-1.277029
  4. ^ http://www.upstreamonline.com/live/article296954.ece
  5. ^ Cabot Oil & Gas Marcellus Shale Map
  6. ^ Cabot Oil & Gas, Cabot Oil & Gas provides operations update, 24 April 2013.
  7. ^ Suzanne Goldenberg, "The anti-fracking activist barred from 312.5 sq miles of Pennsylvania", The Guardian, 29 January 2014

External links[edit]