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Cabot sells Texas acreage to focus on Appalachian Basin

Monday, January 8, 2018 by

1 response

Cabot Oil & Gas has decided to leave parts of Texas to focus more resources on the Appalachian shale natural gas basin, according to United Press International.

The company said it is selling off around 74,500 net acres of assets in the Eagle Ford shale basin in Texas to an affiliate of Venado Oil & Gas for $765 million. It also said it sold its remaining interests in East Texas to an undisclosed buyer for an unknown sum.

Cabot expects its total production to increase by at least 15 percent this year, with at least $750 million of its $1 billion budget designated for the Appalachia basin in 2018.

Learn more: UPI > Cabot Oil & Gas steps away from Texas and toward Appalachia shale

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One Comment

  1. Homer Travis says:

    Is any oil/gas company drilling in Jefferson township, Noble County, Ohio?

Leave a Reply to Homer Travis

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