News Release

Cabot Oil & Gas Announces Management Changes
 

HOUSTON, July 29 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that its Board of Directors elected Edgar J. Milan as Vice President and Chief Financial Officer and promoted James M. Trimble to the newly created post of Senior Vice President, Exploration and Production. Milan replaces Ray Seegmiller, who in February 1997 was promoted to Executive Vice President and Chief Operating Officer. Milan will have overall responsibility for directing the Company's financial activities. Trimble will oversee the Company's expanding exploration and production efforts including allocating resources between regions for exploration projects. Both will report to Seegmiller.

Milan's professional background includes over 35 years of management experience with both domestic and international energy related companies. He most recently served as Senior Vice President & Chief Financial Officer for Tenneco Europe Ltd., in London, England and Vice President, Tenneco, Inc. Before joining Tenneco in 1979 as CFO of Tenneco Oil E&P, Milan held various management positions with Mobil Oil Corporation.

Trimble joined Cabot Oil & Gas in May of 1983. He has served in several positions of increasing responsibility over the years, most recently serving as Vice President, Business Development and Engineering. Prior to joining the Company, Trimble served in management positions with Volvo Energy Corporation.

Charles P. Siess, Jr., Chairman and Chief Executive Officer commented, "I am extremely pleased with these events. Ed brings a broad base of experience and knowledge to a senior management team committed to growing this organization. His knowledge of the exploration and production sector strengthens these efforts. Jim's proven leadership abilities provide the Company with the necessary expertise at an important time in its history to maximize the returns from its exploration and production activities. Our successful and expanding efforts in these areas over the past two years have led to the need for this position. I am excited to have both individuals on our team as we make our strategic decisions to take this Company into the next century."

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.

The statements regarding future financial performance and results and the other statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, market factors, the market price of natural gas and oil, results of future drilling and marketing activity, future production and costs and other factors detailed in the Company's Securities and Exchange Commission filings.
SOURCE Cabot Oil & Gas Corporation
CONTACT: Scott Schroeder, of Cabot Oil & Gas Corporation, 281-589-4993