Dan Dinges
Dan Dinges
acres active area company controls initial large major oil originated past pleased plus potential prospect remain results summer throughout
The Minden prospect originated this past summer through a large acreage acquisition from a major oil company and Cabot now controls 3,500 acres over the area. We are pleased with our initial results and will remain active in this area throughout 2006. On forty-acre spacing, the prospect has the potential for 80 plus locations.
addition both coast effort good grow growth gulf organic production region regions reserves showing start strategy
With the addition of these volumes, our Gulf Coast region is off to a good start for 2006 in its effort to grow its production. Combined, all regions are now showing growth in both production and reserves which is very attractive, especially considering the organic strategy on which we have predominately focused.
buying capital cog december early inherent investment late looking market merit november pull shares stock value
With the inherent value in Cabot's capital program, we recommenced buying shares in late November and early December with the market pull back. We still see a lot of merit and long-term value for the shareholders in looking at COG stock as an investment alternative.
activity calls complete current drilling including increased less level necessary plays program purchased region secured
We have secured the rigs necessary to complete our program, a program that focuses on more development activity and less risk. The current forecasted activity level calls for 391 wells, with increased activity in each region including expanded drilling on each of the acquisition plays purchased in 2005.