|Cabot Oil & Gas Corporation Announces Management Changes|
HOUSTON, April 15 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that its Board of Directors has elected Paul F. Boling, age 44, to the position of Vice President, Finance and Scott C. Schroeder, age 35, to the position of Vice President and Treasurer of the Company. Messrs. Boling and Schroeder will handle the responsibilities of the Chief Financial Officer, who resigned in February, 1998. Mr. Boling will have authority over the Company's accounting, audit, tax and information systems; while Mr. Schroeder will have authority over treasury, planning, insurance and investor relations.
Charles P. Siess, Jr., Chairman and Chief Executive Officer stated, "This move signifies the confidence our Board of Directors has in the strength of the existing management team. By promoting from within, we continue to build continuity in the organization that has experienced two record years of performance." Siess added, "Paul and Scott are two of our proven leaders who have been instrumental in contributing to the Company's overall success. Their knowledge in their respective disciplines has been and will continue to be essential as the Company sets it future financial strategy."
Mr. Boling is a 1977 graduate of Baylor University with a Bachelors of Business Administration degree and holds a CPA certification in Texas. He has over seven years of experience with the Company, serving as Controller since 1996. Prior to joining Cabot Oil & Gas, Mr. Boling held various management positions in other oil and gas companies and worked four years with a Big Six accounting firm.
Mr. Schroeder is a 1984 graduate of Northern Illinois University with a Bachelor of Science degree in Business Finance and a 1991 graduate of the University of Colorado where he acquired his MBA. Mr. Schroeder joined the Company in 1995 and was elected Treasurer in 1997. Prior to joining Cabot Oil & Gas, he held various treasury related positions at Pride International (formerly Pride Petroleum Services) and DeKalb Energy Company.
Cabot Oil & Gas Corporation, headquartered in Houston, Texas, is a leading domestic independent natural gas producer and marketer with substantial interests in the Appalachia, Anadarko, Rocky Mountain and Gulf Coast regions. For additional information about the Company, visit COG's internet home page at http://www.cabotog.com.
The statements regarding future financial performance and results and the
other statements which are not historical facts contained in this release are
forward-looking statements that involve risks and uncertainties, including,
but not limited to, market factors, the market price of natural gas and oil,
results of future drilling and marketing activity, future production and costs
and other factors detailed in the Company's Securities and Exchange Commission