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Cabot Sells Midcon Properties For $123 Million

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December 9, 2013

Cabot Oil & Gas Corp. (NYSE: COG) is continuing its string of selling non-core properties, letting go of its legacy conventional Midcontinent assets for $123 million, the company announced Dec. 9.

Cabot recently entered into a purchase and sale agreement with an undisclosed buyer to sell certain legacy conventional oil and gas properties located in the Midcontinent. Current production from these properties is 15 million cubic feet equivalent per day (MMcfe/d) with 94% gas.

"To date we have announced approximately $325 million of non-core asset sales, with proceeds being reinvested ...

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