Cabot Oil & Gas

Transaction Type
Sellers
Marketers
Basin
Appalachian
Post Date
Close Date
Estimated Price
0MM
Description

Cabot Oil & Gas has retained The Oil & Gas Asset Clearinghouse to sell certain oil and gas interests in the Marcellus shale in a negotiated transaction.

The package involves leases in Braxton and Webster counties, West Virginia, Wayne County, Pennsylvania and Sullivan County, New York, with access to existing gas infrastructure and northeastern gas markets. The properties are being marketed and sold in a single divestment package by state.

As part of the package, the Newville property in West Virginia comprises 14,467 gross acres (1,845 net acres), with an average net revenue interest of 80%. The Lackawaxen property in Pennsylvania includes 11,885 gross acres (11,797 net acres), with an average net revenue interest of 83%. The Catskill property in New York consists of approximately 4,707 gross acres (4,707 net acres), with an average net revenue interest of 85%.

The blocked acreage lies in proven areas of the Marcellus shale play. In West Virginia, the lease contains high Btu gas, and in Pennsylvania and New York, the leases contain dry pipeline-quality gas.

The data room is now open. The bid due date is Aug. 3. The effective date is Aug. 1. Contact Verna Ray, vray@ogclearinghouse.com, 832-601-7662.