Cabot’s forward EV-to-EBITDA multiple of ~10.0x is higher than its peers’ multiples.
Cabot Oil & Gas (COG) traded at an average EV-to-EBITDA ratio of 20.1x between 2Q15 and 2Q17. EV is the sum of a company’s market capitalization and net debt.
Cabot Oil & Gas (COG) believes that if it maintains 3.7 Bcf (billion cubic feet) per day production for 25 years, it would need to spend an annual maintenance capital of $500.0 million.
In 2Q17, Cabot Oil & Gas (COG) reported cash flows from operations (or CFO) of ~$260.6 million. That compares to $85.0 million in 2Q16.
Cabot Oil & Gas’s (COG) presentation in August 2017 noted that it had no debt maturing until 2018.
Since 2Q15, Cabot Oil & Gas’s (COG) total debt has fallen ~31.0%. In 2Q17, its total debt was ~$1.52 billion compared to ~$2.0 billion in 2Q15 and $1.54 billion in 2Q16.
Cabot Oil & Gas’s (COG) net-debt-to-EBITDA multiple rose steadily between 2Q15 and 4Q15 due to a rising net debt and a falling EBITDA trend.
Whiting Petroleum’s (WLL) proved reserves have risen significantly since 2011 when they stood at ~345.2 million boe (barrels of oil equivalent).
Whiting Petroleum’s (WLL) total production in 2Q17 was ~112.7 Mboepd (thousand barrels of oil equivalent per day).
Whiting Petroleum (WLL) controls 159,994 gross (134,771) acres in the Redtail region of the DJ Basin.
The Bakken region has one of the highest break-even oil prices near $55 per barrel.
Whiting Petroleum (WLL) controls 692,815 gross (414,050 net) acres in the Williston Basin.
In its 2Q17 earnings conference, Whiting Petroleum (WLL) lowered its capex forecast for 2017 from $1.1 billion to $950 million.
The SPDR Gold Trust (GLD) added $873 million—gold prices rose to the highest level in a year. The largest outflow was witnessed in SPY.
Bank stocks fell lower last week as bond yields reached the lowest levels in 2017, which caused interest rates to fall.
According to AIR Worldwide, Hurricane Irma will likely create insured losses of $20 billion–$65 billion for the US and some Caribbean islands.
COG’s finding and development costs in the Marcellus Shale have fallen ~60% since 2011 to $0.26 per Mcf in 2016.
Cabot Oil & Gas (COG) has provided a production growth guidance range of 8.0%–12.0% for 2017.
Improved takeaway capacity could boost Marcellus production volumes for producers like Cabot Oil & Gas, Range Resources (RRC), and Southwestern Energy (SWN).
Williams Partners’ (WPZ) Atlantic Sunrise project finally got the necessary approvals from the FERC (Federal Energy Regulatory Commission) earlier this year.