Cabot Oil & Gas Corporation (COG) and EOG Resources, Inc. (EOG) announced that they will enter into a 50/50 joint venture in Atascosa County, Texas to develop Eagle Ford Shale:
Cabot has entered a 50/50 joint venture agreement with EOG Resources, Inc. to develop approximately 18,000 acres in the mature oil window of the Eagle Ford shale in Atascosa County. Under the terms of the agreement, each party contributed the same amount of acreage and EOG will operate. Dinges added, "We are excited about the location of this acreage and for the opportunity to participate with one of the most experienced, active operators in the trend."
As it relates to this trend outside of this joint venture, Cabot's second operated Eagle Ford well has been drilled and cased with completion operations set to begin in late August-early September. A third operated Eagle Ford effort will spud by month-end.
Full article below:
http://phx.corporate-ir.net/phoenix.zhtml?c=116492&p=irol-newsArticle&ID=1450757&highlight
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