Cabot Oil And Gas Q3 Net Loss Narrows

(RTTNews) - Cabot Oil and Gas Corp. (COG) Friday reported narrower net loss for the third quarter to $10.26 million from $15.514 million in the prior year. On a per share basis, loss narrowed to $0.02 from $0.04 last year.

On average, 34 analysts polled by Thomson Reuters expected the company to record loss of $0.04 per share. Analysts estimates usually exclude special items.

Operating revenue for the quarter increased to $310.43 million from $305.29 million in the previous year. Street expected revenue of 308.11 million.

The company noted that the volatility in commodity price continues to challenge the industry.

For the fourth quarter, the company expects net production of 1650 to 1725 Mmcf per day of natural gas and 8500 to 9000 Bbls per day for crude oil and condensate and 1000 to 1050 Bbls per day of NGLs. Further, the company adjusted the full year equivalent production guidance range to 3 to 4 percent.

For the full year 2017, the company expects production growth guidance range at 5 to 10 percent.