UPDATE 1-Cabot Oil to buy East Texas assets for $602.8 mln

(Adds details on location, financing)

LOS ANGELES, June 4 (Reuters) - Cabot Oil & Gas Corp (COG.N) 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. (Reporting by Gina Keating; Editing by Gary Hill)