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News Release

Cabot Oil & Gas Corporation Announces Pricing and Upsizing of Public Offering
 
HOUSTON, June 20, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that it has priced a public offering of 4,350,000 shares of its common stock at price to the public of $65.27 per share. The size of the offering represents an increase over the 3,600,000 shares that the Company had previously announced. Proceeds of the offering are expected to partially fund the purchase price of the recently announced property acquisition in East Texas. The Company has also granted the underwriters a 30-day option to purchase up to an additional 652,500 shares of its common stock to cover over-allotments, if any. The offering is expected to close on June 25, 2008, subject to customary closing conditions.

Goldman, Sachs & Co. acted as sole book-running manager for the offering. Copies of the prospectus supplement relating to the offering, when available, may be obtained from the offices of Goldman, Sachs & Co., Attn: Prospectus Department, 100 Burma Road, Jersey City, NJ 07305, Phone: 212-902-1171, Facsimile: 212-902-9316, and email at prospectus-ny@ny.email.gs.com.

The shares are being offered pursuant to an effective shelf registration statement that the Company previously filed with the U.S. Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of the state.

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.

SOURCE Cabot Oil & Gas Corporation