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Cabot Oil & Gas Q2 net loss $62.9 million

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Staff Writer | August 1, 2016
Cabot Oil & Gas
Cabot Oil & Gas   EBITDAX was $127.3 million

Cabot Oil & Gas Corporation reported results for the second quarter of 2016. Cash flow from operating activities was $85.2 million, compared to $171.2 million in Q2 2015.

Discretionary cash flow in the second quarter of 2016 was $97.6 million, compared to $183.2 million in the second quarter of 2015.

Net loss was $62.9 million, or $0.14 per share, compared to net loss of $27.5 million, or $0.07 per share, in the second quarter of 2015.

Excluding the effect of selected items, net loss was $30.2 million, or $0.07 per share, compared to net income of $14.6 million, or $0.03 per share, in the second quarter of 2015.

EBITDAX was $127.3 million, compared to $203.9 million in the second quarter of 2015.

Operating expenses (including financing) decreased to $2.22 per thousand cubic feet equivalent (Mcfe) in the second quarter of 2016, a 12 percent improvement compared to $2.52 per Mcfe in the second quarter of 2015.

Cash operating expenses (excluding depreciation, depletion and amortization; stock-based compensation; exploratory dry hole cost; and amortization of debt issuance costs) decreased to $1.19 per Mcfe in the second quarter of 2016, a 12 percent improvement compared to $1.35 per Mcfe in the second quarter of 2015.

Cabot drilled seven net wells and completed 11 net wells during the second quarter of 2016, incurring a total of $70.9 million in capital expenditures associated with activity during this period.


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