Cabot Energy published their Interim Results for 2018 under new management today, and in an in-depth interview with London South East, new CEO Scott Aitken talks us through results, a farm-out of the ‘world-class’ Italian assets and delivers his ‘strategic, operational and financial review of the business.
Cabot Energy Plc (LON:CAB) has announced the appointment of James Dewar as the company’s new interim chairman. Dewar says they’re currently undertaking an extensive operational and financial review of the company and he’s looking forward to working with the new management team.
Keith Bush, chief executive of Cabot Energy Plc (LON:CAB), tells Proactive’s Andrew Scott production in April averaged 950 barrels of oil per day, meanwhile, the measure for the first three months of the year averaged 725 bopd.
In an exclusive interview with London South East, CEO Keith Bush explained that the Cabot planned spend for 2018 is $14 million, with some of that already spent on the four sidetracks. Drilling will be the main focus for 2018, in addition to some infrastructure upgrade work. The team has been strengthened to cope with the new workload.
Cabot Energy CEO Keith Bush announced the results of the winter work programme in Alberta today, describing them as ‘better than expected’. He was keen to emphasise the successful use of 3D seismic to identify the properties within each reef and to target productive zones.
Cabot Energy have bought the remaining 25% of the oil-producing Canadian assets they operate in Alberta. In effect they become the operator of the field and all revenues return to Cabot. In turn, ‘H2P UK’ owner I-Pulse Inc, well-funded developers of stimulation technology, have taken a majority stake in Cabot as part of the deal. * The price paid by […]
Keith Bush tells Proactive that total gross proven and probable (2P) reserves for the group’s Canadian assets amounted to 2.9mln barrels oil equivalent – representing a 53% rise from 1.9mln barrels at the same point in 2016.
Keith Bush, CEO at Cabot Energy explains why better than expected sidetrack well flow rates auger well for the future potential of their Alberta oil assets. 100 bpd of oil was expected, 680 bpd flowed, and both Rainbow and Virgo fields have multiple opportunities for this type of return.
Keith Bush, chief executive of Cabot Energy Plc (LON:CAB) tells Proactive the side-track of the 16-05 well at the Rainbow project in Canada has seen significantly better-than-expected flow rates during well testing. The side-track well is now in production, connected to the existing pipeline.
Keith Bush, chief executive of Cabot Energy Plc (previously called Northern Petroleum Plc) talks through their acquisition of several onshore production and development gas assets in Italy from Rockhopper Exploration Plc (LSE:RKH).
Keith Bush, chief executive of Cabot Energy Plc (previously called Northern Petroleum Plc) tells Proactive’s Andrew Scott 2016 was a ‘pivotal year’ for them which saw revenues climb and losses narrow. Bush also updated investors on their winter as well as upcoming summer work programmes.
Keith Bush, chief executive of Cabot Energy Plc (previously called Northern Petroleum Plc) says taking control of six shut-in production wells near its Rainbow assets will grow its production base in Canada which is the “core area of asset growth.” Bush says the deal is evidence of what the oil producer can do in the current environment and crucially brings […]
Keith Bush, chief executive of Cabot Energy Plc (previously called Northern Petroleum Plc), has hailed news that partner and oil giant Shell is launching a local engagement programme ahead of submitting an environmental impact assessment (EIA) at the Cascina Alberto project in northern Italy. “We are very pleased that Shell is taking this forward because there are a number of […]
The Company has outlined an upcoming work programme for its Canadian assets that will see around 20 historic wells reopened and brought into production. CEO Keith Bush tells Proactive: ”We looked at this as part of the opportunity when we did the asset acquisition over a year ago.” ”We always wanted to get some wells that had been shut-in for […]
Keith Bush, chief executive, says he is very pleased with the outcome of the group’s new oil reserves assessment for its assets in Canada. “We’ve done an amount of work this year that has enabled us to increase the production from the wells on the asset and it has really shown dividends with the increased reserves report,” Bush says in […]