Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties located in North America. The four principal areas of operation of the Company are the Appalachian Basin, onshore Gulf Coast, including south and east Texas and north Louisiana, the Rocky Mountains and the Anadarko Basin. The Company also operate in the deep gas basin of Western Canada. During the year ended December 31, 2008, the Company drilled 432 gross wells (355 net) with a success rate of 97%. The proved reserves of the Company totaled approximately 1,942 billion cubic feet of natural gas equivalents (Bcfe) in 2008 of which 97% were natural gas.