Exhibit 99.1
February 20, 2020
Matt Kerin (281) 589-4642

Cabot Oil & Gas Corporation Reports Fourth Quarter and Full-Year 2019 Results

HOUSTON, Feb. 20, 2020 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) (“Cabot” or the “Company”) today reported financial and operating results for the fourth quarter and full-year 2019.

“Our 2019 results highlight the strength of our company, which was demonstrated by the generation of record levels for net income, operating cash flow, free cash flow, production, proved reserves and operating expenses,” said Dan O. Dinges, Chairman, President and Chief Executive Officer. “While we continue to manage through headwinds from lower natural gas prices, our low cost structure and low leverage position will allow us to continue to generate positive free cash flow and economic corporate returns, maintain our financial strength, and return capital to shareholders during these challenging times for the natural gas markets.”

Full-Year 2019 Highlights
Net income of $681.1 million (or $1.64 per share); adjusted net income (non-GAAP) of $698.8 million (or $1.68 per share)
Free cash flow (non-GAAP) of $563.1 million, marking the fourth consecutive year of positive free cash flow
Return on capital employed (ROCE) (non-GAAP) of 22.2 percent
Returned $665.4 million of capital to shareholders through dividends and share repurchases, including a 43 percent increase in the quarterly dividend per share and a seven percent reduction in weighted-average shares outstanding
Production of 865.3 billion cubic feet equivalent (Bcfe), an increase of 18 percent year-over-year
Proved reserves of 12.9 trillion cubic feet equivalent (Tcfe), an increase of 11 percent year-over-year
Operating expenses per unit of $1.44 per thousand cubic feet equivalent (Mcfe), an 18 percent improvement year-over-year


The following information was filed by Cabot Oil Gas Corp (COG) on Friday, February 21, 2020 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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