Cabot and Range to keep spending, production flat in 2021
Monday, March 15, 2021
Cabot Oil & Gas Corp. and Range Resources Corp. plan to keep spending and production stagnant in 2021, even though the natural gas outlook is improving, according to Natural Gas Intelligence.
Cabot’s production will average 2.35 Bcfe/d on a capital spending program of $530-540 million in 2021. That compares with 2.34 Bcfe/d produced on a budget of $570 million in 2020.
Range will have a $425 million all-in capital budget for 2021 that will keep year-over-year production flat at 2.15 Bcfe/d. Last year’s budget came in at $411 million — $109 million less than originally planned.
Learn more: Natural Gas Intelligence > Appalachian Pure-Plays Cabot, Range Staying in Maintenance Mode This Year
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