Exhibit 99.1
g175701mmi001a03.jpg
February 24, 2017
FOR MORE INFORMATION CONTACT
 
Matt Kerin (281) 589-4642

Cabot Oil & Gas Corporation Announces Fourth Quarter and Full-Year 2016 Results,
Reports Five Percent Proved Reserves Growth to 8.6 Tcfe, Provides Marcellus EUR Update
HOUSTON, February 24, 2017/PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) (“Cabot” or the “Company”) today reported financial and operating results for the fourth quarter and full-year ended December 31, 2016.
Highlights
Equivalent production growth of four percent year-over-year
Proved reserves growth of five percent year-over-year including proved developed reserves growth of 16 percent
Total company all-sources finding and development costs of $0.37 per thousand cubic feet equivalent (Mcfe) and Marcellus-only all-sources finding and development costs of $0.26 per thousand cubic feet (Mcf)
Generated positive free cash flow (cash flow from operating activities less capital expenditures) for the full-year
Improved operating expenses per unit by eight percent and cash operating expenses per unit by 11 percent year-over-year
Reduced outstanding debt by $497 million and ended the year with approximately $2.2 billion of liquidity
Increased Marcellus estimated ultimate recovery (EUR) per 1,000 feet of lateral to 4.4 billion cubic feet (Bcf)
“Our 2016 performance demonstrates Cabot’s ability to deliver strong operational and financial results despite lower commodity prices for the majority of the year,” said Dan O. Dinges, Chairman, President and Chief Executive Officer. “The Company delivered production and reserves growth while spending within operating cash flow during a year in which we realized record-low natural gas prices, highlighting Cabot’s world-class asset base and the consistent execution

1

The following information was filed by Cabot Oil Gas Corp (COG) on Friday, February 24, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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