HOUSTON and DENVER — Cabot Oil & Gas Corp. and Cimarex Energy Co. have entered into a definitive agreement whereby the companies will combine in an all-stock merger of equals. The combination will bring together two industry-leading operators with top-tier oil and natural gas assets to create a diversified energy leader that is positioned to drive enhanced free cash-flow generation and returns for investors through market cycles.

Under the terms of the agreement, Cimarex shareholders will receive 4.0146 shares of Cabot common stock for each share of Cimarex common stock owned. The exchange ratio, together with closing prices for Cabot and Cimarex, reflects an enterprise value for the combined companies of approximately $17 billion.

For more information, visit www.cabotog.com or www.cimarex.com.