Businessweek

Cabot Oil & Gas Corporation, an independent oil and gas company, engages in the development, exploitation, and exploration of oil and gas properties located in the United States. The company’s properties are primarily located in Appalachia, east and south Texas and Oklahoma. Its activities in Appalachia are concentrated primarily in northeast Pennsylvania and in West Virginia. Principal producing intervals in east Texas are in the Cotton Valley, Haynesville, Bossier, and James Lime formations and the principal producing intervals in south Texas are in the Eagle Ford, Frio, Vicksburg and Wilcox formations, with total depths ranging from approximately 2,650 to 19,650 feet, with an average depth of approximately 11,150 feet. The company’s activities in Oklahoma include the Marmaton, Chase, Morrow and Chester formations in the Anadarko Basin at depths ranging from approximately 2,350 to 18,630 feet, with an average depth of approximately 10,490 feet. The company also holds undeveloped acreage in the Rocky Mountains, located in Montana and Nevada. The company also has 2 natural gas storage fields located in West Virginia with a combined working capacity of approximately 4 Bcf (One billion cubic feet of natural gas). Reserves The company’s proved reserves were approximately 3,033 Bcfe (One billion cubic feet of natural gas equivalent), as of December 31, 2011, of which 96% were natural gas reserves. Markets The principal markets for the company’s natural gas are in the northeastern and midwestern United States and the industrialized Gulf Coast area. In the northeastern United States, the company sells natural gas to industrial customers, local distribution companies and gas marketers both on and off pipeline and gathering system. In the Gulf Coast area and the midwestern United States, the company sells natural gas to intrastate pipelines, natural gas processors and marketing companies. Significant Events In October 2011, the company sold certain proved oil and gas properties located in Colorado, Utah and Wyoming to Breitburn Energy Partners, L.P. In May 2011, the company sold certain of unproved Haynesville and Bossier Shale oil and gas properties in east Texas to a third party. History Cabot Oil & Gas Corporation was founded in 1989.