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News Release

Cabot Oil & Gas Declares Dividend
 

HOUSTON, May 11 /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 May 28, 1999, to all shareholders of record as of the close of business May 21,1999.

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 www.cabotog.com.
SOURCE Cabot Oil & Gas Corporation
Web site: http: //www.cabotog.com
Company News On-Call: http: //www.prnewswire.com/comp/129660.html or fax, 800-758-5804, ext. 129660
CONTACT: Scott Schroeder of Cabot Oil & Gas Corporation, 281-589-4993