Cabot Oil & Gas Corporation, Company Intelligence Report
Summary
Cabot Oil & Gas Corporation (Cabot) is an oil and gas company, mainly engaged in the exploration, development and production activities in the US. The company's major Exploration and Production (E&P) activities in the US are focused in the northern and southern regions of the country. Its operations in the northern region are mainly spread across the areas of Appalachia and the Rocky Mountains. Cabot's operations in the southern region include its E&P activities in Texas and Oklahoma.
Apart from its E&P activities, Cabot also operates a number of midstream facilities, including gas gathering and transmission pipeline systems, which are mainly focused in the northern region. The company had a pipeline base of around 3,105 miles and storage capacity of 4.0 Billion Cubic Feet (bcf) at the end of 2011, primarily located in West Virginia. Cabot further plans to further expand its midstream infrastructure in the near future.
Scope
Key Highlights: This section provides detailed analysis on the company's overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
SWOT: The report's SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
Production and Development Overview: This section highlights the company's crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company's producing and development assets.
Exploration: This section includes detailed explanation and analysis on the company's exploration assets resulted due to new discoveries, new drilling and other activities.
M&A trends: This section mainly provides information and analysis on the company's recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company's status as a buyer or seller during the analyzed period.
Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
Peer Group Analysis: This section compares the company's performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
Financial and Operational Metrics: This section covers the company's historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.
Reasons to buy
The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
Provide detailed analysis to those who are interested in knowing the companies' existing and future business strategies.
Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Keywords
Valuation Report, NAV, Oil and gas valuation, Strategic Evaluation, Strategic and Operational Analysis, Forecasted financial Statements, SWOT, Capital expenditure, Market Scenario, Revenue, Financial Ratios, Production, Reserves, Peer Group Comparison, DCF, Outlook, Investment Thesis, Investment Summary, Hess
Table of Contents
TOC
1 Table of Contents
1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 7
2 Cabot Oil & Gas Corporation, Company Overview 9
3 Cabot Oil & Gas Corporation, Investment Summary 14
3.1 Moving Towards Oil; Development of the Eagle Ford Shale to Drive the Transition 14
3.2 Continued Focus on the Development of the Marcellus Shale to Support its Production Growth 17
3.3 Expanding Midstream Portfolio to Drive Higher Production Volumes 19
3.3.1 Williams Springville Pipeline 20
3.3.2 Laser Pipeline 20
3.3.3 Lenoxville Pipeline 20
3.3.4 New High-pressure Pipeline with Williams Partners LP 20
4 Cabot Oil & Gas Corporation, SWOT Analysis 22
4.1 Strengths 22
4.1.1 Consistent Growth in its Reserve Base Achieved through Organic Reserve Additions 22
4.1.2 Consistent Growth in Production 22
4.2 Weaknesses 23
4.2.1 Production Inclined Towards Natural Gas; Imbalanced Portfolio 23
4.3 Opportunities 24
4.3.1 Development of the Eagle Ford Shale Holds Potential to Grow Oil Production and Improve Profitability 24
4.4 Threats 25
4.4.1 High Dependence on the Marcellus Shale amid Tight Shale Drilling Norms May Affect Growth Plan 25
5 Cabot Oil & Gas Corporation, Goals and Stategies 26
5.1 Increasing Shareholders' Value 26
5.1.1 Augment Reserves and Production Volumes 26
5.1.2 Improve Cash Flows 26
5.2 Expanding Midstream Facilities 26
6 Cabot Oil & Gas Corporation, Production Overview 27
6.1 Production Profile 27
6.2 Asset Profile 28
6.2.1 The US 28
7 Cabot Oil & Gas Corporation, Exploration and Development Overview 30
7.1 Marcellus Shale 32
7.2 Eagle Ford Shale 33
7.3 Marmaton Shale 33
7.4 Utica Shale 33
8 Cabot Oil & Gas Corporation, Capital Expenditure 34
8.1 Costs Incurred 35
9 Cabot Oil & Gas Corporation, Acreage 37
10 Cabot Oil & Gas Corporation, M&A Highlights 39
11 Cabot Oil & Gas Corporation, Forecast Production and Financial Statements 40
11.1 Income Statement (2009-2016) 41
11.2 Balance Sheet (2009-2016) 42
11.3 Cash Flow Statement (2009-2016) 43
11.4 Financial Ratios 43
12 Cabot Oil & Gas Corporation, Valuation 46
12.1 Net Asset Value 46
13 Cabot Oil & Gas Corporation, Peer Comparison 49
13.1 Share Price Performance 49
13.2 Operational and Financial Performance 49
13.3 Key Financial and Operational Ratio 52
14 Cabot Oil & Gas Corporation, Production and Reserves Trends 55
14.1 Cabot Oil & Gas Corporation, Total Oil and Gas, Reserves and Production 55
14.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011 55
14.1.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011 56
14.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 58
14.2 Cabot Oil & Gas Corporation, Crude Oil/Liquids Production and Reserve 59
14.2.1 Crude Oil/Liquids Production and Reserve Trend, 2007-2011 59
14.2.2 Crude Oil Production and Reserves By Country/Region, 2007-2011 60
Table 32: Cabot Oil & Gas Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2007-2011 63
Table 33: Cabot Oil & Gas Corporation, Natural Gas Production and Reserves, By Country/Region, Bcf, 2007-2011 65
Table 34: Cabot Oil & Gas Corporation, Natural Gas Reserve Changes, Bcf, 2007-2011 66
Table 35: Cabot Oil & Gas Corporation, Oil and Gas Reserves Life Index, Years, 2007-2011 67
Table 36: Cabot Oil & Gas Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2007-2011 69
Table 37: Cabot Oil & Gas Corporation, Upstream Capital Expenditure, $m, 2007-2011 70
Table 38: Cabot Oil & Gas Corporation, Proved and Unproved Acquisition Costs, By Country/Region, $m, 2007-2011 72
Table 39: Cabot Oil & Gas Corporation, Exploration and Development Costs, By Country/Region, $m, 2007-2011 74
Table 40: Cabot Oil & Gas Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2007-2011 76
Table 41: Cabot Oil & Gas Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, By Country/Region, 2007-2011 77
Table 42: Cabot Oil & Gas Corporation, Oil and Gas Production Replacement Ratio, %, 2007-2011 79
Table 43: Cabot Oil & Gas Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2007-2011 80
Table 44: Cabot Oil & Gas Corporation, Revenue and Expenses, $m, 2007-2011 81
Table 45: Cabot Oil & Gas Corporation, Revenue and Expenses, By Country/Region, $m, 2007-2011 87
Table 46: Cabot Oil & Gas Corporation, Oil and Gas Revenue and Expenses, $/boe, 2007-2011 88
Table 47: Cabot Oil & Gas Corporation, Oil and Gas Revenue and Expenses, $/boe, By Country/Region, 2007-2011 92
Table 48: Cabot Oil & Gas Corporation, Oil and Gas Performance Metrics, 2007-2011 93
Table 49: Cabot Oil & Gas Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2007-2011 94
Table 50: Cabot Oil & Gas Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2007-2011 97
Table 51: Cabot Oil & Gas Corporation, Producible Oil and Gas Wells, 2007-2011 98
Table 52: Cabot Oil & Gas Corporation, Producible Oil and Gas Wells, By Country/Region, 2007-2011 103
Table 53: Cabot Oil & Gas Corporation, Exploratory and Developed Wells, 2007-2011 104
Table 54: Cabot Oil & Gas Corporation, Exploratory and Developed Wells, By Country/Region, 2007-2011 105
Figure 33: Cabot Oil & Gas Corporation, Natural Gas Production and Reserves Metrics, Bcf, 2007-2011 63
Figure 34: Cabot Oil & Gas Corporation, Gas Reserves, End of Period, By Country/Region, Bcf, 2007-2011 64
Figure 35: Cabot Oil & Gas Corporation, Gas Production, By Country/Region, Bcf, 2007-2011 64
Figure 36: Cabot Oil & Gas Corporation, Natural Gas Reserve Changes, Bcf, 2011 66
Figure 37: Cabot Oil & Gas Corporation, Oil and Gas Reserves Life Index, Years, 2007-2011 67
Figure 38: Cabot Oil & Gas Corporation, Gas Reserve Life Index, By Country/Region, Years, 2007-2011 68
Figure 39: Cabot Oil & Gas Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2007-2011 68
Figure 40: Cabot Oil & Gas Corporation, Oil Reserve Life Index, By Country/Region, Years, 2007-2011 69
Figure 41: Cabot Oil & Gas Corporation, Upstream Capital Expenditure, $m, 2007-2011 70
Figure 42: Cabot Oil & Gas Corporation, Proved Acquisition Costs, By Country/Region, $m, 2007-2011 71
Figure 43: Cabot Oil & Gas Corporation, Unproved Acquisition Costs, By Country/Region, $m, 2007-2011 71
Figure 44: Cabot Oil & Gas Corporation, Development Costs, By Country/Region, $m, 2007-2011 73
Figure 45: Cabot Oil & Gas Corporation, Exploration Costs, By Country/Region, $m, 2007-2011 73
Figure 46: Cabot Oil & Gas Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, $/boe, 2007-2011 75
Figure 47: Cabot Oil & Gas Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2007-2011 78
Figure 48: Cabot Oil & Gas Corporation, Revenue and Expenses, $m, 2007-2011 81
Figure 49: Cabot Oil & Gas Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 82
Figure 50: Cabot Oil & Gas Corporation, Exploration Expenses, By Country/Region, $m, 2007-2011 83
Figure 51: Cabot Oil & Gas Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 83
Figure 52: Cabot Oil & Gas Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 84
Figure 53: Cabot Oil & Gas Corporation, Oil & Gas Revenue, By Country/Region, $m, 2007-2011 84
Figure 54: Cabot Oil & Gas Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 85
Figure 55: Cabot Oil & Gas Corporation, Production Costs, By Country/Region, $m, 2007-2011 85
Figure 56: Cabot Oil & Gas Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, $m, 2007-2011 86
Figure 57: Cabot Oil & Gas Corporation, Oil and Gas Revenue and Expenses, $/boe, 2007-2011 88
Figure 58: Cabot Oil & Gas Corporation, Exploration Expenses per boe, By Country/Region, $/boe, 2007-2011 89
Figure 59: Cabot Oil & Gas Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2007-2011 89
Figure 60: Cabot Oil & Gas Corporation, Lifting Cost per boe, By Country/Region, $/boe, 2007-2011 90
Figure 61: Cabot Oil & Gas Corporation, Annual Net Income per boe, By Country/Region, $/boe, 2007-2011 90
Figure 62: Cabot Oil & Gas Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2007-2011 91
Figure 63: Cabot Oil & Gas Corporation, Total DD&A per boe, By Country/Region, $/boe, 2007-2011 91
Figure 64: Cabot Oil & Gas Corporation, Total Revenue per boe, By Country/Region, $/boe, 2007-2011 92
Figure 65: Cabot Oil & Gas Corporation, Oil and Gas Performance Metrics, 2007-2011 93
Figure 66: Cabot Oil & Gas Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2007-2011 94
Figure 67: Cabot Oil & Gas Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2007-2011 95
Figure 68: Cabot Oil & Gas Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2007-2011 95
Figure 69: Cabot Oil & Gas Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2007-2011 96
Figure 70: Cabot Oil & Gas Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2007-2011 96
Figure 71: Cabot Oil & Gas Corporation, Producible Oil and Gas Wells, 2007-2011 98
Figure 72: Cabot Oil & Gas Corporation, Gross Productive Gas Wells, By Country/Region, Number, 2007-2011 99
Figure 73: Cabot Oil & Gas Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2007-2011 99
Figure 74: Cabot Oil & Gas Corporation, Gross Productive Oil Wells, By Country/Region, Number, 2007-2011 100
Figure 75: Cabot Oil & Gas Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2007-2011 100
Figure 76: Cabot Oil & Gas Corporation, Net Productive Gas Wells, By Country/Region, Number, 2007-2011 101
Figure 77: Cabot Oil & Gas Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2007-2011 101
Figure 78: Cabot Oil & Gas Corporation, Net Productive Oil Wells, By Country/Region, Number, 2007-2011 102
Figure 79: Cabot Oil & Gas Corporation, Exploratory and Developed Wells, 2007-2011 104
Cabot Oil & Gas Corporation, Company Intelligence Report published by GlobalData in May 21, 2012. This report consists of Pages: 107 and the price starts from US $ 1000.
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