December 20, 2017 / 9:31 PM / 10 months ago

REFILE-BRIEF-Cabot Oil & Gas Corp Announces Agreement To Sell Eagle Ford Shale Assets

(Corrects to add dropped letters in first bullet)

Dec 20 (Reuters) - Cabot Oil & Gas Corp:

* CABOT OIL & GAS CORPORATION ANNOUNCES AGREEMENT TO SELL EAGLE FORD SHALE ASSETS

* AGREED TO SELL ITS OPERATED AND NON-OPERATED EAGLE FORD SHALE ASSETS TO AN AFFILIATE OF VENADO OIL & GAS LLC FOR $765 MILLION​

* EXPECTS TO RECORD A NON-CASH, AFTER-TAX IMPAIRMENT ON EAGLE FORD SHALE ASSETS OF APPROXIMATELY $270 TO $280 MILLION IN Q4 OF 2017​

* CABOT OIL & GAS - DIVESTITURE INCLUDES ABOUT 74,500 NET ACRES OF EAGLE FORD SHALE LEASEHOLD PRIMARILY LOCATED IN FRIO AND ATASCOSA COUNTIES

* UPDATED ITS 2018 DAILY PRODUCTION GROWTH GUIDANCE RANGE TO 10 TO 15 PERCENT ​

* SAYS ‍COMPANY HAS ALSO UPDATED ITS 2018 CAPITAL BUDGET RANGE TO $900 MILLION TO $1.0 BILLION​

* CABOT OIL & GAS - BASED ON CURRENT OUTLOOK FOR OIL MARKETS, DID NOT PLAN TO ALLOCATE INCREMENTAL CAPITAL TO EAGLE FORD SHALE ABOVE CURRENT LEVELS

* SEPARATELY, COMPANY ANNOUNCED SALE OF ITS REMAINING EAST TEXAS ASSETS TO AN UNDISCLOSED BUYER Source text for Eikon: Further company coverage:

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