HOUSTON, Dec. 13, 2010 /PRNewswire via COMTEX/ --
Cabot Oil & Gas Corporation (NYSE: COG) today announced that it has received the air quality permit for its Lathrop Compressor Station to begin construction. With the permit, Cabot will immediately begin the installation of its next three compressors. Once operational, fully permitted and tested, these units are expected to add 105 to 120 Mmcf per day of capacity. Cabot expects to have this phase of the station operational by early to mid-February.
"This is yet another exciting event for Cabot as we end 2010 and look ahead to 2011," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "We have been capacity constrained much of this fall and winter waiting on this permit. As we move forward with facility installation, we will be able to provide new clarity on production guidance in the February year-end teleconference."
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 http://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