Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company�s primary areas of operation include Appalachia, east and south Texas, and Oklahoma. The Company operates in one segment, natural gas and oil development, exploitation and exploration, exclusively in the continental United States. The Company produced 187.5 billion cubic feet of natural gas equivalent, or 513.7 million cubic feet of natural gas equivalent per day, during the year ended December 31, 2011. Its proved reserves totaled approximately 3,033 billion cubic feet of natural gas equivalent at December 31, 2011. During 2011, it drilled 161 gross wells. In October 2011, it sold certain proved oil and gas properties located in Colorado, Utah and Wyoming to Breitburn Energy Partners, L.P. In May 2011, it sold certain of its unproved Haynesville and Bossier Shale oil and gas properties in east Texas to a third party.