HOUSTON, April 22 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG)
today announced the third successful completion in the Kacee field (originally
the Easter prospect) in Colorado County, Texas.
After stimulation, the Cooper 2-3 well is currently producing
14.1 Mmcf and 96 barrels of oil per day at a flowing tubing pressure of
4425 psi on a 20/64" choke. The well is producing from the Cruel Sandstone of
the Wilcox Formation at a depth of 11,900 feet. On a gross basis, the three
Cooper wells are producing close to 40 Mmcfe per day. Cabot Oil & Gas has a
70% working interest and 54% net revenue interest in these three wells.
"We are extremely encouraged with the results to date coming from this
field," said Ray R. Seegmiller, President and CEO. "A fourth well is
currently drilling with a potential for two additional offsets. The Kacee
field has been instrumental in the continued growth of our Gulf Coast region
where production has increased from a low of 15 Mmcfe per day in October to
its current level of more than three and one half times that amount."
Cabot Oil & Gas Corporation, headquartered in Houston, Texas, is a leading
domestic independent natural gas producer and marketer with substantial
interests in the Appalachian, Anadarko, Rocky Mountains and Gulf Coast
regions. For additional information about Cabot Oil & Gas Corporation, visit
the Company's 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 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 Corporation, 281-589-4993