HOUSTON, Dec. 21, 2010 /PRNewswire/ -- Cabot Oil & Gas
Corporation (NYSE: COG) today announced the completion of its
midstream asset sale to Williams Field Services Company, LLC
("WFS"), a subsidiary of Williams Partners L.P. (NYSE: WPZ).
Cabot received the anticipated $150
million in proceeds.
"This closing is just the first step in our long-term venture
with Williams Partners to develop our outstanding Marcellus acreage
position and provide decades of clean-burning natural gas supplies
to power our nation," said Dan O.
Dinges, Chairman, President and Chief Executive Officer.
"I commend both teams for initiating this win-win deal."
Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading independent
natural gas producer with its entire resource base located in the
continental United States.
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