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News Release

Cabot Oil & Gas Declares Dividend
 

HOUSTON, April 30 /PRNewswire-FirstCall/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that its Board of Directors declared a regular dividend of three cents ($0.03) per share on the Company's common stock. The dividend will be paid May 27, 2008, to all shareholders of record as of the close of business May 13, 2008.

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 04/30/2008
CONTACT: Scott Schroeder of Cabot Oil & Gas Corporation,
1-281-589-4993
Web site: http://www.cabotog.com
(COG)