Who We Are
We are an independent oil and gas company engaged in natural gas and crude oil exploration and development exclusively onshore in the United States. Our 2016 production was 96 percent natural gas, primarily from the Marcellus Shale in Northeastern Pennsylvania, and 4 percent liquids (crude oil and natural gas liquids), primarily from the Eagle Ford Shale in Texas. We strive to enhance shareholder value through disciplined capital spending, a low-cost structure, a conservative financial position and the reduction of commodity price risk through strategic marketing and transportation agreements.
How We Manage Corporate Responsibility
At Cabot Oil & Gas Corporation, we strive not only to be a leading independent producer of natural gas and oil, but to be a leader in safe, responsible operations and to minimize the impact of our operations on our employees, our communities and the environment. Our success in developing abundant unconventional supplies of natural gas helps to support our country’s goal to reduce total greenhouse gas emissions while achieving energy independence.
Cabot’s legacy of corporate responsibility places high value on operating with respect and care for people, property and the environment. We believe this commitment, along with our operational success, has helped to create strong value for our shareholders and other stakeholders in our communities.
We accomplish our objectives for responsible operations through our comprehensive environmental, health and safety (EHS) program. Our EHS management system enhances our ability to achieve our vision by establishing a corporate governance framework for EHS compliance. Led by a team of experienced professionals, our EHS department partners with all operations of the company to support and enhance our activities. Our EHS team works closely with operations to ensure regulatory compliance and performs functions related to employee and stakeholder education, preparedness planning, program assessment and reporting, and state and federal agency reporting. Through management leadership and employee participation, our EHS programs help us to:
Safety & Environmental Affairs (S&E) Committee
An integral component of our EHS program is the Safety & Environmental Affairs (S&E) Committee of our Board of Directors. This committee is one of the few in our industry to focus solely on environmental, health and safety matters at every regular board meeting and underscores our commitment to ensure that Cabot is a leader in our peer group in responsible, sustainable operations. The S&E Committee was formed in 1991 to help provide oversight of the increasingly complex nature of safety and environmental regulations and to oversee our continued commitment to corporate responsibility. The S&E Committee meets on a quarterly basis to review:
- Compliance with laws, regulations, policies, programs and practices with regard to environmental, health and safety matters;
- Responses to releases, investigations, notices of violations and civil actions;
- The Company’s safety program, including reports of incidents, statistics and actions or investigations by any governmental body;
- Responses to pending legislative and regulatory efforts related to environmental, health and safety that are likely to significantly affect the Company’s business;
- Environmental, health and safety and initiatives and training designed to improve the Company’s performance; and
- Performance trends associated with motor vehicle accidents; first aid cases; days away, restricted and transferred (DART); OSHA recordable cases; notices of violations; greenhouse gas emissions; releases; or other environmental incidents.
As part of Cabot’s commitment to support practical and sustainable environmental programs, we are an original member and supporter of API’s “The Environmental Partnership” program launched in December 2017. We will participate with a group of our industry’s largest companies to reduce Methane and VOCs in our operations through the sharing of best practices and implementing innovative strategies as they are developed. Cabot is excited to be an original member of The Environmental Partnership and we look forward to the continued growth in its membership and the resulting benefits for Cabot and all of our stakeholders. For more information on The Environmental Partnership please see: https://theenvironmentalpartnership.org/
Cabot participates in a variety of industry working groups on topics relevant to our operations, such as air quality monitoring, wellbore integrity and waste minimization. During the promulgation of regulatory programs with potential impact on the oil and gas industry, Cabot actively participates with our industry peers during the rule commenting periods in support of regulatory outcomes that are conducive to our stakeholder partnerships and in alignment with the operations and practices of the oil and gas industry.
Cabot also participates in various industry User Work Groups in the spirit of information and knowledge sharing to promote standardization, streamlined processes and procedures, networking and information exchange that results in benefits to stakeholders while also enhancing Cabot’s state of preparedness for compliance. For example, software solutions are often a critical enabler for achieving regulatory compliance with regard to data collection, integrity and review. Many oil and gas companies utilize the same software providers to achieve compliance. We share our various processes and best practices with our peers to improve industry performance.