HOUSTON, Nov. 23 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG)
today announced the successful completion of three wells. The Elsie Cooper #1
well in Colorado County and two Hancock wells, the #1-4 and #1-3, in Lavaca
County which combined are producing 11.9 Mmcfe per day, net to Cabot 7 Mmcf of
natural gas and 31 barrels of oil per day.
Ray R. Seegmiller, President and CEO commenting on these recent successes
stated, "The successful completion of these wells highlights how the Gulf
Coast region continues to provide opportunities for Cabot Oil & Gas. The
Cooper discovery was an internally generated prospect that now has set up two
offsets which will be drilled in the next three months. The Hancock
discoveries in our Provident City field supports three additional offsets."
The Elsie Cooper well, in which Cabot Oil & Gas has a 75% working
interest, was turned in line at the end of October. It produces 3.6 Mmcf of
natural gas and 23 barrels of oil per day on a 7/64 inch choke with flowing
tubing pressure of 6750 psi. The well reached a total depth of 12,118 feet
and produces from 100 feet of pay in the Wilcox Sand.
The Hancock #1-4 well produces 4.9 Mmcf natural gas and three barrels of
oil per day on a 12/64 inch choke with flowing tubing pressure of 6075 psi.
The well was turned in line in early October after reaching a total depth of
13,220 feet. Production comes from 30 feet of pay in the Wilcox 8 Sand.
Cabot Oil & Gas has a 46% working interest in the well.
The Hancock #1-3 well, recompleted in the Wilcox 8 Sand, was turned in
line in mid November. Current production is 3.1 Mmcf natural gas and 20
barrels of oil per day on a 9/64 inch choke with flowing tubing pressure of
6150 psi. The well was drilled to a total depth of 12,800 feet to the Wilcox
8 Sand finding 25 feet of pay. Cabot Oil & Gas has a 66% working interest in
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
SOURCE Cabot Oil & Gas Corporation
Web site: http: //www.cabotog.com
Company News On-Call: http: //www.prnewswire.com/comp/129660.html or fax, 800-758-5804, ext. 129660
CONTACT: Scott Schroeder of Cabot Oil & Gas, 281-589-4993