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Cabot Oil & Gas Declares Dividend
May 13, 1998

HOUSTON, May 13 /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 29, 1998 to all shareholders of record as of the close of business May 22, 1998.

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 http://www.cabotog.com.
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 Schroeder of Cabot Oil & Gas Corporation, 281-589-4993