News Release

Cabot Oil & Gas Announces New Director
 

HOUSTON, July 22 /PRNewswire-FirstCall/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced the election of Mr. Rhys J. Best to its Board of Directors effective immediately. Most recently Mr. Best was Chairman and Chief Executive Officer of Lone Star Technologies, Inc., a holding company whose principal operations included the production and marketing of casing, tubing, line pipe and couplings for the oil and gas industry; specialty tubing for the industrial, automotive and power generation industries; and flat rolled steel and other tubular products and services for markets in North America. Lone Star was recently merged with United States Steel Company.

Mr. Best is a director of Crosstex Energy LP, Trinity Industries, Inc., Austin Industries, Inc. and McJunkin Red Man Corporation. Mr. Best holds a Bachelor of Business Administration degree from the University of North Texas and an MBA from Southern Methodist University. "I am delighted that Rhys has agreed to join Cabot's board. His depth of knowledge of our industry, in addition to his all-around business experience, will complement the Company's efforts," said Dan O. Dinges, Chairman, President and CEO.

Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading independent natural gas producer with substantial interests in the Gulf Coast, including Texas and Louisiana; the West, with the Rocky Mountains and Mid-Continent; the East and in Canada. For additional information, visit the Company's Internet homepage at http://www.cabotog.com.

SOURCE Cabot Oil & Gas Corporation

CONTACT: Scott Schroeder of Cabot Oil & Gas Corporation,
+1-281-589-4993