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Cabot Oil & Gas Corporation Announces Common Stock Offering
Jun 18, 2008

HOUSTON, June 18 /PRNewswire-FirstCall/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced that it intends to publicly offer 3,600,000 shares of its common stock. Proceeds of the offering are expected to partially fund the purchase price of the recently announced property acquisition in East Texas.

This offering is intended to be marketed primarily to index funds that are expected to have a need to purchase Cabot Oil & Gas common stock when it is added to the S&P 500 Index at the close of trading on June 20, 2008. The offering will also be marketed to other investors, including non-index active investors.

The offering will be made pursuant to a shelf registration statement filed by the Company with the Securities and Exchange Commission on June 18, 2008, which became automatically effective. The Company also expects to grant the underwriters an over-allotment option to purchase up to 540,000 additional shares of common stock.

Goldman, Sachs & Co. is sole book-running manager for the offering. Copies of the preliminary prospectus supplement relating to the offering 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 e-mail at prospectus-ny@ny.email.gs.com.

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.

The statements regarding the offering and its terms contained in this release are forward-looking statements that involve risks and uncertainties based on market conditions.

SOURCE Cabot Oil & Gas Corporation

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