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How Have Cabot Oil & Gas’s Proved Reserves Changed since 2013?

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Dec. 4 2020, Updated 10:52 a.m. ET

COG’s proved reserves

Cabot Oil & Gas’s (COG) proved reserves have risen considerably since 2013. At the end of 2016, COG had proved reserves of ~8.6 Tcfe (trillion cubic feet equivalent), compared to ~8.2 Tcfe at the end of 2015. In other words, COG’s proved reserves rose 5% compared to their 2015 levels.

As we can see in the image above, COG’s proved reserves have risen at a steadily slowing rate since 2014.

COG’s estimated proved reserves at the end of 2016 were 97% natural gas, and 93% of its proved reserves were located in the Marcellus Shale. According to COG’s 4Q16 earnings, the discounted value of its reserve base at the end of 2016 was ~$2.2 billion, compared to ~$2.9 billion at the end of 2015.

Because they determine future cash flows, proved reserves are important metrics when considering upstream energy companies’ valuations. Next, we’ll take a look at COG’s natural gas production percentage and how it has evolved since 2014.

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