Cabot Oil & Gas Corp. (NYSE: COG) detailed its first-quarter 2014 financial results on April 24, noting that cash flows and income were both up over last year’s first-quarter levels.

Cash flow from operations was $255.4 million this year, up from 2013’s $212.7 million, the company said. Similarly, discretionary cash flow was $319.5 million this year, up from 2013’s $234.4 million, Cabot noted.

First-quarter 2014’s net income was $109.7 million, or 26 cents per share, up from first-quarter 2013’s $54.2 million and 13 cents per share, the company added.

The increased cash flows and income were due to higher equivalent production and realized natural gas prices, Cabot said. These were partly offset by lower realized oil prices and increased operating expenses, the company added.

Realized natural gas prices, with hedges, were $3.74 per thousand cubic feet in first-quarter 2014, up 8% over last year, the company said.

Realized oil prices, with hedges, were $97.76 per barrel, down 6% over first-quarter 2013, the company added.

Regarding finances, the borrowing base under the company’s revolving credit facility was increased to $3.1 million from $2.3 million on April 15, Cabot said. The lenders’ commitments of $1.4 billion were unchanged, the company added, and noted that as of March 31, there was $864 million in available credit.

The company’s total debt is $1,222 million, the company said, noting that $535 million of it is in the credit facility.

Regarding capex, the company has increased its guidance, Cabot said, noting that it is now between $1.375 billion and $1.475 billion.

Additionally, Cabot detailed some operation updates, noting that during the first-quarter, an average of 1,209 million cubic feet was produced in the Marcellus. This amount was up 44% over 2013’s first-quarter, the company said.

In the Eagle Ford during first-quarter 2014, 7,271 barrels of oil equivalent (boe) were produced, the company said, noting that this amount increased 42% over first-quarter 2013.

Also in the Eagle Ford, $600,000 was saved due to the installation of a six-well pad drilling rig that currently produces 1,045 boe/d, the company added. About 4,000 net acres were added to the company’s Eagle Ford holdings in the first-quarter through leasing, Cabot said.

Houston-based Cabot Oil & Gas Corp. produces domestic oil and natural gas.