US independent Cabot Oil & Gas is selling its assets in the Eagle Ford shale to an affiliate of Venado Oil & Gas for $765 million, writes Josh Lewis.
Cabot is selling its 74,500 net acres in the Eagle Ford, with the leases primarily located in Frio and Atascosa counties in Texas.
“In a higher oil price environment, the Eagle Ford shale assets were a nice complement to our Marcellus shale position and provided capital allocation optionality,” Cabot chief executive Dan Dinges said.
