Cabot Company is an independent Oil and Gas company that works exclusively in the continental United States to discover oil and gas resources. It continues to improve its operational focus, with the Marcellus Shale in northeastern Pennsylvania reducing its natural gas developmental efforts. It has a proven deposit equivalent of 11, 605 trillion cubic feet, all of which is natural gas and all of it is in the Marcellus Shale, in which the company owns about 174,000 net acres.
Annual Revenue:1.764 Billion U.S Dollars
Founded in: 1989
Number of Employees: 303
- In 1990, the company became a public enterprise through an initial public offering.
- The company obtained Washington Energy Resources in a stock transaction of $180 million in 1994.
- In May 1995, John Lollar, was ousted by the company due to the ill-timing of Washington Energy Resources development.
- The firm sold oil reserves and collected $92.5 million in northwestern Pennsylvania in 1997.
- The company bought Cody Energy for $230 million in 2001.
- The company sold its property in Oklahoma and Western Texas ‘ Marmaton game ‘ for $160 million in 2013.
Operations, Plans & Financial Status:
Cabot primarily works onshore and in the United States only. It manufactures 96 percent of its Natural Gas, from the Marcellus Shale in Northeastern Pennsylvania, and 4 percent from the Eagle Ford Shale.
Its budget is about $800 million per year. The Company is planning to explore 85 to 90 net wells per year and bring 80 to 85 net wells in service. It offers volume development and debt-adjusted assets on per share basis. The company’s return on capital continues to improve, making a stronger balance sheet with major financial flexibility. It increase shareholder value via disciplined capital spending, a low-cost structure, a conservative financial situation and an elimination in commodity price risk through economic marketing and transport contracts.
Cabot Oil and Gas strives not only to be a prime independent producer of natural gas and oil, but to be a leader in safe and responsible operations, and to reduce the impact of its operations on its employees, communities and the environment. Its success in developing ample unconventional supply of natural gas helps to support its country’s goal to reduce the entire greenhouse gas emissions while attaining energy independence. Services that it provides to its customers are:
- Health And Safety
As a manufacturer in the oil and gas exploration and production market, it places a high value on its industry with respect and care for humans and the environment. Exemplary protection efficiency is an essential part of its future plans and contributes to its goal of promoting the safety, security and well-being of its workers, contractors and local authorities, while also establishing the quality of the environment in which it operates. It gives special emphasis on:
- Occupational safety
- Contractor Safety
- Community Safety
The areas in which the company works, a safe, clean and healthy natural environment should be a part of its workers quality of life. As an absolute minimum expectation, it must perform in accordance with all applicable rules. It gives a premium on environmental compliance and doesl not accept intentional non-compliance. It gives special emphasis on:
- Water Management
- Air Quality Management
- Land Stewardship
- Incidental Releases And Waste
- Making Its Communities Stronger
Cabot is honored to be an active participant of the societies it works in. Its employees and their families live in its servicing areas and communicate its commitment to building social prosperity and protecting neighbors and environment. It has special focus on:
- Education &
- Investing In The Community