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Since the second quarter conference call, the Cabot Oil & Gas Corp. has repurchased approximately 2.7 million shares.
The Company has approximately 11.7 million shares remaining under its share repurchase program.
Dan O. Dinges, Chairman, President, and Chief Executive Officer, commented: "We continue to believe that there is a meaningful disconnect between the long-term value creation provided by our assets and our current market valuation. As a result, we will continue to be opportunistic on share repurchases without compromising the financial flexibility that is provided by our strong balance sheet."