I have mineral rights leased to Cabot up for renewal on 29 January,2013..in San Augustine county surveys, A-83,A-130,A-65 &A-238.I received via publication info as to them selling off some fields to an unknown party.Please find copy of their statement;

Asset Sale

The Company has agreed to terms on the sale of four South Texas fields to an undisclosed third party.  The sale includes legacy conventional properties with approximately 18 Bcfe of booked reserves and 2.2 Mmcfe per day of current production.  Proceeds from the sale will approximate $29 million, subject to closing adjustments, and will result in a book loss of approximately $12 million after-tax.  Closing is scheduled for this week. "We continue to explore opportunities to high grade our portfolio by monetizing legacy assets and redeploying those funds into our high-return projects," commented Dinges.

Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading independent natural gas producer with its entire resource base located in the continental United States. For additional information, visit the Company's Internet homepage at www.cabotog.com.

The statements regarding future financial performance and results and the other statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, market factors, the market price (including regional basis differentials) of natural gas and oil, results of future drilling and marketing activity, future production and costs, and other factors detailed in the Company's Securities and Exchange Commission filings.

Question I have is if anyone knows if this affects my up coming renewal, as have checked county records and do not see any attachments to my current lease as to a reassignment  to another company.

Tags: Haynesville

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I would hazard a guess that the fields to be sold do not include San Augustine County.  Generally the industry would refer to assets in San Augustine as East Texas, not South Texas.  As to the chances of Cabot exercising an option to extend based on the location by survey of your minerals, I would suggest that question is best posed on the San Augustine Group Page.

http://www.gohaynesvilleshale.com/group/sanaugustine

Cabot referred to the assets being sold as "conventional properties". Wouldn't think that would apply to San Augustine Co.

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