Who We Are
We are an independent oil and gas company engaged in natural gas exploration and development exclusively onshore in the United States. Our 2019 net production was 100% natural gas from the Marcellus Shale in northeastern Pennsylvania. 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, 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 the goal of reducing total greenhouse gas emissions while achieving energy independence in the U.S.
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:
Our EHS program and management system cover all elements of our operating lifecycle, from exploration and pre-drill site assessments, through to decommissioning and reclamation.
Our program supports the management of various environmental risks including:
- Management of produced water
- Groundwater protection
- Air quality
- Greenhouse gas emissions
- Land protection (including biodiversity protection)
- Waste management
Underlying references for our EHS management system include American Petroleum Institute (API) Consensus Standards, Occupational Safety and Health Administration (OSHA) standards and regulations, the American National Standards Institute and ASTM International.
Environment, Health & Safety Committee (EHS)
An integral component of our EHS program is the Environment, Health & Safety (EHS) 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 EHS Committee was originally formed in 1991 as the Safety & Environmental Affairs Committee, renamed in 2020 as the EHS Committee, and provides oversight of the Company’s environmental, health and safety programs and our continued commitment to sustainable operations. The EHS Committee meets on a quarterly basis to review:
- The Company’s climate change and sustainability policies and programs and public disclosures relating to the same;
- 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 the environment, 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 volatile organic compounds (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 our stakeholders.
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.