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CABOT OIL & GAS CORPORATION ACQUIRES APPALACHIAN-BASIN PROPERTIES

 HOUSTON, Sept. 10 /PRNewswire/ -- Cabot Oil & Gas Corp. (NYSE: COG) and CNG Transmission Corporation (NYSE: CNG) jointly announce the signing of a letter of intent for Cabot Oil & Gas to purchase natural gas properties and gathering system facilities in Boone, Kanawha and Raleigh Counties of southern West Virginia from CNG Transmission Corporation.
 Cabot Oil & Gas also has reached an agreement to purchase CNG Transmission's interest in 25 wells in the Pineton Field of Indiana County in western Pennsylvania. These wells produce about one million cubic feet of natural gas per day.
 The West Virginia properties, in the Seth-Whitesville area, produce approximately three million cubic feet of natural gas per day from 42 wells. The acquisition includes 24,000 acres of leaseholds, the Whitesville compressor station, 106 miles of gathering and transmission pipelines and related assets.
 Cabot Oil & Gas is a leading independent natural gas producer and marketer with headquarters in Houston, and regional offices in Pittsburgh and Oklahoma City.
 CNG Transmission Corporation, headquartered in Clarksburg, W.Va., is the interstate gas transmission subsidiary of Consolidated Natural Gas Company, a fully integrated natural gas company. Primarily a provider of gas transportation and storage services. CNG Transmission has links to other major pipelines and markets in the midwest, mid-atlantic and northeast regions of the United States.
 -0- 9/10/93
 /CONTACT: Steven W. Tholen of Cabot Oil & Gas Corp., 713-589-4696; T. David Cotten of CNG Transmission Corp., 304-623-8200/
 (COG CNG)


CO: Cabot Oil & Gas Corp.; CNG Transmission Corp.; Consolidated Natural
 Gas Co. ST: Texas, West Virginia IN: OIL SU: TNM


DJ-CM -- NE003 -- 0645 09/10/93 09:37 EDT
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Publication:PR Newswire
Date:Sep 10, 1993
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