Cabot Oil & Gas said it would sell its Eagle Ford Shale assets to a unit of Venado Oil & Gas for $ 765 m to focus on its Permian acreage in a bid to increase its returns . (Refiles to remove extraneous word “said” in fourth paragraph) The sale includes 74,500 net acres of shale , which had produced 15,656 barrels of oil equivalent per day in the third quarter . “ In a higher oil price environment , the Eagle Ford Shale assets were a nice complement to our Barnett Shale position and provided capital allocation optionality , ” said CEO Dan Dingus . Separately , it said it sold its remaining East Texas assets to an undisclosed buyer .
Cabot Oil & Gas said it would sell its Eagle Ford Shale assets to a unit of Venado Oil & Gas for $ 765 m to focus on its Permian acreage in a bid to increase its returns . The sale includes 74,500 net acres of shale , which had produced 15,656 barrels of oil equivalent per day in the third quarter . “ In a higher oil price environment , the Eagle Ford Shale assets were a nice complement to our Barnett Shale position and provided capital allocation optionality , ” said CEO Dan Dingus . Separately , it said it sold its remaining East Texas assets to an undisclosed buyer .