Type Public company Founded 1989 (1989) Revenue 1.357 billion USD (2015) Number of employees 459 (2015) | Industry Petroleum industry Key people Dan O. Dinges (CEO) CEO Dan O Dinges (May 2002–) | |
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Traded as NYSE: COG
S&P 500 Component Products Petroleum, natural gas, natural gas liquids Stock price COG (NYSE) US$ 22.36 0.00 (0.00%)3 Mar, 4:01 PM GMT-5 - Disclaimer Headquarters Houston, Texas, United States Profiles | ||
Cabot oil gas corporation broadcast commercial
Cabot Oil & Gas Corporation is a petroleum, natural gas, and natural gas liquids exploration and production company based in Houston, Texas.
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Current operations
As of December 31, 2015, 96% of the company's proved reserves were natural gas on an energy-equivalent basis, and 92% were in the Marcellus Shale. In 2015, the company produced 600 billion cubic feet equivalent of natural gas.
The company operates in the Marcellus Shale in Pennsylvania, where it controls approximately 200,000 net acres as well as in the Eagle Ford Shale, where it controls approximately 89,000 net acres.
History
The company became a public company via an initial public offering in 1990.
In 1994, the company acquired Washington Energy Resources in a $180 million stock transaction.
In 1995, the company ousted John Lollar, its chairman and CEO, in part due to the ill-timing of the acquisition of Washington Energy Resources.
In 2008, the company was added to the S&P 500 index.
In 2013, the company sold its assets in the Marmaton play of Oklahoma and West Texas for $160 million.
Environmental damage
The company has been cited for numerous violations in regard to spills of toxic hydro-fracking fluids in Northeastern Pennsylvania.
The company was cited for improper well construction as a result of polluted drinking water.
Restraining order on anti-fracking activist
In January 2014, Cabot sought, and a judge granted, a temporary injunction barring anti-fracking activist Vera Scroggins from entering on any land in Pennsylvania owned or leased by Cabot. "In total, 312.5 sq miles are no-go areas for Scroggins under a sweeping court order granted by a local judge that bars her from any properties owned or leased by one of the biggest drillers in the Pennsylvania natural gas rush, Cabot Oil & Gas Corporation." It was noted by Cabot during court testimony that Scroggins had violated no laws and that this lawsuit was based on her being considered a "nuisance" due to her reporting and activism at Cabot sites.