Those who are interested in the oil and gas sector have probably noticed that Cabot Oil & Gas Corporation (NYSE:COG) has been on the radar of many investors for quite a few weeks.
Over the course of the past month, the stock has managed to deliver gains of as much as 32% and it might be the right time to look into Cabot Oil a bit more closely. Yesterday the company was in the news once again after it announced that eligible note holders in Cimarex were eligible to exchange their notes.
The company also announced that in exchange for the notes, the holders were going to be awarded new notes by Cabot with the aggregate principal value of as much as $2,000,000,000. In addition to that, cash as well as related consent solicitations are going to be on offer from Cimarex.
It was a major announcement from the company and one that could have a long standing effect on the well being of Cabot Oil. Considering the fact that the stock has already clocked handsome gains over the past month, it is going to be interesting to see if the latest developments lead to a further upsurge.
If investors are bullish on oil, it may be prudent to seek securities in the sector with positive press. Investors looking for energy securities with positive momentum may want to look at Allied Energy Corp. (OTCMKTS:AGYP) an oil and gas independent that is now pumping oil from proven wells on several Texas leased sites. Get on the inside early as AGYP has literally just struck oil.
