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News Release

Cabot Oil & Gas Declares Dividend
 

HOUSTON, Jan. 27 /PRNewswire-FirstCall/ -- Cabot Oil & Gas Corporation (NYSE: COG) today 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 February 24, 2006, to all shareholders of record as of the close of business February 10, 2006.

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 an expansion effort in Canada. For additional information, visit the Company's Internet homepage at www.cabotog.com.

SOURCE Cabot Oil & Gas Corporation
01/27/2006

CONTACT: Scott Schroeder of Cabot Oil & Gas Corporation, 1-281-589-4993

5942 01/27/2006 16:14 EST http://www.prnewswire.com