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Cabot Oil & Gas Sells Assets For $188 Million

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October 17, 2013

Cabot Oil & Gas Corp. (NYSE: COG) announced Oct. 17 the sale of proved and unproved assets in Mid-Continent and West Texas for $188 million. 

“The divestiture of our Marmaton and West Texas properties reflects our commitment to accelerating value within the portfolio by monetizing non-core positions and redeploying proceeds to our higher-return projects in the Marcellus Shale,” said Dan O. Dinges, chairman, president and CEO.

The assets include 66,000 net acres, current production of 2,000 barrels of oil per day (MBOE/d) and proved reserves of 8.4 MMBOE, as of ...

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