Market Seems to like Cabot Oil & Gas (COG) Purchase
Source: http://feeds.feedburner.com/~r/FundMyMutualFund/~3/305387971/market-seems-to-like-cabot-oil-gas-cog.htmlPosted on Thursday, June 5th, 2008 | In Current Market News, Stocks to Watch
Contributed by: Trader Mark (http://fundmyfund.blogspot.com) -
I don’t see why all the hoopla – it seems like a relatively minor purchase at $600M but the market is loving it, pushing Cabot Oil & Gas (COG) up nearly 9%.
- Cabot Oil & Gas Corp (COG) said on Wednesday it has agreed to pay $602.8 million for producing properties, leasehold acreage and a gathering infrastructure from a private party in East Texas.
- The acquired acreage lies near Cabot Oil’s existing property and will enhance its development of the Pettet, Travis Peak and Cotton Valley formations, the company said.
- The tract includes 25,000 gross acres in the Minden area of East Texas. The company said it will finance the deal through a combination of debt and common equity.
I continue to not own enough of this name…
Long Cabot Oil & Gas in fund; no personal position
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Tags for this Post:
Acreage, All The Hoopla, Amp, Cabot Corp, Cabot Oil Gas, Cotton Valley, Current Market News, East Texas, Gross Acres, infrastructure, Minden, Personal Position, Pettet, Private Party, Stocks to Watch, Travis Peak
Acreage, All The Hoopla, Amp, Cabot Corp, Cabot Oil Gas, Cotton Valley, Current Market News, East Texas, Gross Acres, infrastructure, Minden, Personal Position, Pettet, Private Party, Stocks to Watch, Travis Peak
 About Trader Mark (http://fundmyfund.blogspot.com)
Mark is a self taught private investor, fascinated by the market since an early age, discovering mutual funds as a teenager in the 80s, and then moving to equities by the mid 90s. His equity focus is identifying secular growth trends, and the companies most likely to benefit from these macro trends. Stocks are identified through fundamental analysis, although basic technical analysis is used in determining entry and exit points. With a degree in Economics from the University of Michigan, a broader understanding of the economy as a whole, along with interpreting investor psychology is also a major interest for Mark. His career background has focused on financial analysis in corporate America. |
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