Cabot Oil & Gas Corp. said it expects production to grow 30-50% in 2014, and it reaffirmed that production for 2013 will have grown 44-54% by the end of the year.

“We have provided initial 2014 guidance to further reaffirm management’s confidence in our ability to continue to provide best-in-class production growth in 2014,” Cabot CEO Dan Dinges said Thursday.

Cabot reported production of 95.2 Bcfe for 2Q2013, a 52% increase over the previous year’s second quarter and 7% higher than the 89.3 Bcfe produced during 1Q2013 (see Shale Daily, July 26; April 26). The latest production figure included 90.7 Bcf of natural gas and 763,000 bbl of liquids.

“While production volumes have recently been impacted by our strategic decision to periodically hold back production due to the recent softness in Marcellus [Shale] spot market pricing and scheduled infrastructure maintenance projects (most of which will be completed by early October), we believe these are both short-term phenomena that will not have an impact on our production growth in 2013 and beyond,” Dinges said.

In July, Cabot revised its 2013 production growth guidance range to 44-54%, citing confidence in the timing of the continued infrastructure buildout in the Marcellus during the second half of the year.

Also in July, the company increased its spending guidance for 2013 to a range of $1.1 to $1.2 billion, reflecting an increase in estimated net wells drilled for the year after adding a rig to the Marcellus. Cabot now expects to drill 155-165 net wells in 2013, up from the previous guidance of 130-145. This includes an increase in Marcellus wells drilled from 85 to 100 net wells.

“Cabot’s Marcellus position continues to provide the most economic natural gas in North America with a breakeven cost below $1.20/Mcf,” Dinges said. “While current regional pricing will affect our realized pricing in the short-term, we continue to believe the focus should be on the quality of our asset and our extensive inventory of low-risk, high-return drilling opportunities in the Marcellus Shale.”

Cabot has 200,000 net acres in the Marcellus and 62,000 net acres in the Eagle Ford, according to company documents. The company also has 71,000 net acres in the Pearsall Shale and another 70,000 in the Marmaton.