Cabot Oil & Gas Declares Dividend

Cabot Oil & Gas declared a regular dividend of three cents ($0.03) per share on the Company's common stock. The dividend will be paid August 24, 2007, to all shareholders of record as of the close of business August 10, 2007.

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.