One-Page Deal Sheet
Cabot, Sumitomo Ink 20-Year Marcellus Shale Gas PSA
Sumitomo Corp Cabot Oil & Gas Corp
Announced Date
December 19,2013
Transaction Type
Property
Asset/Basin:
{"Appalachian Basin - Marcellus"}
TargetZones:
{"Marcellus Shale"}
Transaction Details: Subscribe to see
Cabot Oil & Gas Corporation reported the execution of a definitive gas sale and purchase agreement with Pacific Summit Energy LLC, a wholly owned subsidiary of Sumitomo Corporation, under which Cabot has agreed to sell 350,000 MMBtu per day of natural gas from its Marcellus Shale position for a term of 20 years commencing on the in-service date of the Dominion Cove Point LNG liquefaction project currently scheduled for 2017.
Dan O. Dinges, Chairman, President and Chief Executive Officer, commented: "We are extremely excited to be partnering with Sumitomo to provide a long-term source of…
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