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New Well in Kacee Field Boosts Gulf Coast Production for Cabot Oil & Gas Corporation
Apr 22, 1999

HOUSTON, April 22 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced the third successful completion in the Kacee field (originally the Easter prospect) in Colorado County, Texas.

After stimulation, the Cooper 2-3 well is currently producing 14.1 Mmcf and 96 barrels of oil per day at a flowing tubing pressure of 4425 psi on a 20/64" choke. The well is producing from the Cruel Sandstone of the Wilcox Formation at a depth of 11,900 feet. On a gross basis, the three Cooper wells are producing close to 40 Mmcfe per day. Cabot Oil & Gas has a 70% working interest and 54% net revenue interest in these three wells.

"We are extremely encouraged with the results to date coming from this field," said Ray R. Seegmiller, President and CEO. "A fourth well is currently drilling with a potential for two additional offsets. The Kacee field has been instrumental in the continued growth of our Gulf Coast region where production has increased from a low of 15 Mmcfe per day in October to its current level of more than three and one half times that amount."

Cabot Oil & Gas Corporation, headquartered in Houston, Texas, is a leading domestic independent natural gas producer and marketer with substantial interests in the Appalachian, Anadarko, Rocky Mountains and Gulf Coast regions. For additional information about Cabot Oil & Gas Corporation, visit the Company's 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 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
Web site: http: //www.cabotog.com
Company News On-Call: http: //www.prnewswire.com/comp/129660.html or fax, 800-758-5804, ext. 129660
CONTACT: Scott Schroeder of Cabot Oil & Gas Corporation, 281-589-4993