|Cabot Oil & Gas Announces New Vice President for Canadian Operations|
HOUSTON, April 1 /PRNewswire-FirstCall/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that Les Watson, age 56, has been appointed to the position of Vice President of Cabot Petroleum Canada, the Company's newly established Canadian subsidiary. In this capacity, Watson will oversee exploration, production and operation activities in Canada from the office recently opened in Calgary, Alberta.
Watson joins Cabot after serving most recently as vice president Canadian operations for Petrocorp Inc. He began his career as a geologist and has held various operating positions of increasing responsibility for Wainoco Oil & Gas Limited, Westgrowth Petroleums Ltd., Hamilton Brothers Canadian Gas Company Ltd., BHP Petroleum (Canada) Inc. and Amoco Canada. He has also served as an independent consultant to U.S. companies with accountability for managing projects and generating prospects.
"Les' nearly 35 years of exploration and operations experience in Canada and his extensive contacts will help ensure Cabot's success in our new venture," said Dan O. Dinges, Chairman and Chief Executive Officer. "His broad ranging experience base, coupled with technical and executive management capabilities, will help direct our exploration activities in the western Canadian basin."
Watson received his B.S. in Geology from the University of British Columbia. He is a member of the American Association of Petroleum Geologists and Alberta Association of Professional Engineers, Geologists and Geophysicists.
Cabot established itself in Canada with 50 percent ownership in the Double Star joint venture. Under this agreement Cabot has access to 250,000 kilometers of 2-D seismic data. "Our mode of entry into the country is through organic drilling," stated Dinges. "We want to build this business like we built our south Louisiana operations, first with drilling success."
Cabot Oil & Gas Corporation, headquartered in Houston, Texas, is a leading domestic independent natural gas producer and marketer with substantial interests in the Gulf Coast, including Texas and Louisiana; the West, with the Rocky Mountains and Mid-Continent; and the East. For additional information, visit the Company's Internet homepage at 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 (including regional basis differentials) 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 filings.
SOURCE Cabot Oil & Gas Corporation