Cabot Oil and Gas Profit Surges

Cabot Oil and Gas Corp reported a surge in third-quarter profit on Friday, helped by higher realized natural gas prices and a gain from asset sales.

The company's net income rose to $122.3 million, or 28 cents per share, for the third quarter ended Sept. 30, from $17.6 million, or 4 cents per share, a year earlier.

The company booked a gain of $25.66 million in the quarter.

Operating revenue rose to $545.2 million from $385.4 million.

(Reporting by Shanti S Nair; Editing by Sriraj Kalluvila)