Wednesday, February 23, 2011

Cabot Haynesville Joint Ventures Coming

Cabot Oil & Gas announced its earnings yesterday and will have its conference call this morning.  Of note to Haynesville fans:
"Cabot is close to finalizing three separate agreements with regard to its Haynesville acreage.  The agreements would consist of both a carried interest in certain wells and cash consideration for the sale of certain acreage and production.  These agreements would allow Cabot to maintain approximately two-thirds (22,000 net acres) of its existing position in the play with held by production acreage or by extensions and/or renewals on a limited number of acres.  An expenditure of approximately $5 million in 2011 would perpetuate this acreage with proceeds generated from these transactions."
We will certainly keep an eye on this news.

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