Cabot Oil & Gas Boosts FY14 Capital Budget Guidance - Quick Facts

(RTTNews) - Cabot Oil & Gas Corp. (COG) Wednesday said it has lifted its annual capital budget guidance range to $1.45 billion - $1.55 billion from the prior range of $1.37 billion - $1.47 billion. This excludes the Eagle Ford acquisition cost. The company now expects to drill about 55 net wells in the Eagle Ford and 165 - 175 net wells company-wide in 2014.

For the third quarter, the group expects to increase daily net production volumes by about two percent sequentially over the second quarter of 2014.

In addition, the firm announced the closing of a $925 million private placement of senior unsecured notes and an acquisition of about 30,000 net acres in the Eagle Ford Shale.

Additionally, Cabot announced the promotion of Matt Kerin to Treasurer, who most recently served as Manager - Finance and Investor Relations and has been with the firm since March 2012.

The company has nearly 11.7 million shares remaining under its share repurchase program.