Dallas, Texas 09/13/2013 (Financialstrend) – In Thursday’s trading, Cabot Oil & Gas Corporation (NYSE:COG) dipped by 2.16%. The company’s shares opened at a price of $38.91 which rose to an intraday high of $38.93 and then dropped to close at $38.04. More than 5.86 million COG shares were traded on Thursday while the average-volume of shares traded over a 30-day period was 3.33 million. COG has a market-capitalization of $16.03 billion.
About the company
COG is an independent O&G company. It is involved in developing, exploiting and exploring oil and gas properties. It’s exploring, developing and production-operations are mainly concentrated in these three plays: The Eagle Ford located in South Texas, the Marcellus Shale located in Pennsylvania, and the Marmaton oil-play located in Oklahoma. It also has various non-core operations in numerous other conventional and unconventional plays across the United States.
COG’s assets are primarily concentrated in the areas that have hydrocarbon resources. These are very conducive to multi well, repeatable-drilling programs. In 2012 December it sold some proved O&G properties situated in South Texas. In 2012 June, COG sold a 35 percent non-operated working-interest that was connected with some of its Pearsall Shale undeveloped-leaseholds located in south Texas.
Cabot Oil & Gas Corporation (NYSE:COG) Marcellus Shale is its major operating area.
COG operates numerous gas-gathering and transmission-pipelines systems. These are made up of around 3,134 miles of pipelines. These pipelines interconnect to 3 interstate transmission-systems and 5 local-distribution companies and various end-users as of 2012 end. The major part of COG’s pipeline infrastructure is situated in West Virginia.
It is regulated by the FERC for interstate-transportation service as well as the WVPSC for intrastate-transportation service. It also has 2 natural-gas storage fields situated in West Virginia. Its combined working-capacity is approximately 4, 1B cubic-feet of natural gas.