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Cabot Oil & Gas Corp | 2016 J.P. Morgan Inaugural Energy Equity Investor Conference | Dan Dinges | Page 3 of 11 | November 21, 2024

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toolButton prevButton nextButton prevKeyButton nextKeyButton prevKeyButton nextKeyButton byDateAscButton byDateDescButton byCompanyNameAscButton byCompanyNameDescButton hidden hidden		Document: "2016 J.P. Morgan Inaugural Energy Equity Investor Conference" View Full Document		× Search Selection Search by Text Search Search by Slide Search Cross reference your docFinder results against PLS' extensive news archives. For demo or training contact Melwyn Oommen, melwyn.oommen@drillinginfo.com
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3 KEY INVESTMENT HIGHLIGHTS 1 Excludes DD&A, exploratory dry hole cost, stock - based compensation and amortization of debt issuance costs 2 EBITDAX is a non- GAAP measure defined as net income plus interest expense, income tax expense, depreciation, depletion and amortization, exploration expense, gains and losses resulting from the sale of assets, non- cash gains and losses on derivative instruments, and stock - based compens ation expense and other Extensive Inventory of Low - Risk, High - Quality Drilling Opportunities Disciplined Capital Spending Driving Production and Reserve Growth Low Cost Structure Focused on Maintaining a Strong Financial Position 226 Peer - leading EUR per lateral foot in the Marcellus Shale 226 Recently increased Marcellus EUR per 1,000 feet guidance from 3.6 Bcf to 3.8 Bcf 226 Recent downspacing tests resulted in a 15% increase in Marcellus location count to ~3,450 locations 226 2016 capital spending guidance of $325 million, a 58% reduction year - over - year 226 2016 production growth guidance of 2% - 7% despite the significant reduction in spending 226 2015 reserve growth of 11% despite reduced activity levels and lower price realizations 226 2015 total company all - sources finding costs of $0.57 per Mcfe 226 2015 Marcellus- only all - sources finding costs of $0.31 per Mcf 226 Q1 2016 total company cash costs1 of $1.18 per Mcfe 226 Q1 2016 Marcellus- only cash costs1 of $0.79 per Mcf (direct LOE of $0.03 per Mcf) 226 Conservative leverage position: Net debt / LTM EBITDAX2 of 1.6x as of 3/31/2016 226 Financial flexibility: Undrawn $1.6 billion credit facility and $579 million of cash as of 3/31/2016