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News Release

Cabot Oil & Gas Corporation Announces Senior Management Promotions
 

HOUSTON, Aug. 12 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) announced today the election of J. Scott Arnold as Vice President, Land and Associate General Counsel, Robert G. Drake as Vice President, Management Information Systems, and Lisa A. Machesney as Vice President, Managing Counsel and Corporate Secretary.

"These promotions reflect the continuing confidence we have in the strong management skills and expertise of our senior staff members," said Ray R. Seegmiller, President and CEO. "They are well qualified in their respective areas of expertise and have been instrumental in helping to direct the unprecedented performance the Company has experienced over the last two and one half years."

Arnold joined Cabot Oil & Gas in 1983 as a Corporate Attorney. Since that time he has served as Regional Land Manager for both the Company's Denver and Charleston operations and as a Senior Corporate Attorney in the Corporate Legal Department. In his new position, Arnold manages the Land Department and oversees all litigation matters for the Company. Prior to joining Cabot Oil & Gas, he worked in various positions with Texas Eastern Transmission Corporation and Amoco Production Company. He received his B.A. in Psychology from Rice University and J.D. degree from The University of Texas at Austin. Arnold is licensed to practice law in the state of Texas and is a member of the State Bar of Texas and the State Bar of Texas Oil, Gas, and Mineral Law section.

Since joining the Company in 1980, Drake has held positions of increasing responsibility in both the Accounting and Information Systems departments. As Vice President, Management Information Systems, he is responsible for overseeing the Company's technology infrastructure, telecommunications, and hardware and software applications. Drake received his B.B.A. degree in General Business from Lamar University in Beaumont, Texas. Prior to joining Cabot Oil & Gas, he worked at Panhandle Eastern and Specialty Retailers Inc. He is a member of the Petroleum Accounting Society of Houston.

As Vice President, Managing Counsel and Corporate Secretary, Machesney oversees all regulatory, environmental, and corporate law matters, along with other legal activities for the Company. In her capacity as Corporate Secretary, she coordinates the efforts of the Board of Directors. She joined Cabot Oil & Gas in 1985 as an attorney and most recently served as Corporate Secretary and Managing Counsel. Prior to joining Cabot Oil & Gas, she was an attorney with ANR Pipeline Company in Houston. Machesney earned a B.A. degree from the University of Michigan and J.D. degree from the University of Detroit Mercy School of Law. She is licensed to practice law in the state of Texas and is a member of the Texas Bar Association and its Corporate Counsel, Business Law, and Oil, Gas, and Mineral Law sections.

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 Mountains, and Gulf Coast regions. For additional information about Cabot Oil & Gas, visit the Company's web site 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
Web site: http: //www.cabotog.com
Company News On-Call: http: //www.prnewswire.com or fax, 800-758-5804, ext. 129660
CONTACT: Scott C. Schroeder of Cabot Oil & Gas Corporation, 281-589-4993