News Release

Cabot Oil & Gas Declares Dividend
 

HOUSTON, July 28 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) announced that its Board of Directors declared a regular dividend of four cents ($0.04) per share on the Company's common stock. The dividend will be paid August 29, 1997 to all shareholders of record as of the close of business August 15, 1997.

Cabot Oil & Gas Corporation, headquartered in Houston, Texas, is a leading domestic independent natural gas producer and marketer with substantial interests in the Appalachia, Anadarko, Rocky Mountain and Gulf Coast regions. For additional information, visit the Company's internet home page at http://www.cabotog.com.
SOURCE Cabot Oil & Gas Corporation
CONTACT: Scott Schroeder of Cabot Oil & Gas Corporation, 281-589-4993