Cabot Oil and Gas reports strong results from their Eagle Ford assets during the first quarter of the year, boasting good returns and reduced costs.
Related: Eagle Ford Rig Count on the Move!
Cabot released first quarter results this week showing a positive reversal since last year. The company reported a net income of $106 million for the first quarter of 2017 compared to a loss of $51 million during 2016 Q1.
Cabot's net production in the Eagle Ford Shale during the first quarter of 2017 was 12,059 barrels of oil equivalent (Boe) per day, an increase of 15 percent form the last quarter. The company raised its 2017 E&P capital budget to $845 million and plans to spend $200 mm for development activities in the Eagle Ford Shale.