Hedge Position Expanded for Cabot

Cabot Oil and Gas recently took advantage of the natural gas market's strength to expand its 2008 hedge position and initiate a 2009 position. In total the Company executed contracts (all zero cost collars), covering 2008 and six contracts covering 2009. "Details of the company's positions are on our website; the 2009 positions were executed at the basis location and were completed off of a $9.60 NYMEX price per Mcf," commented Dinges. "We will continue to be opportunistic and add to our hedge position."

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Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
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