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Cabot Oil & Gas Declares Dividend
May 6, 1997

HOUSTON, May 6 /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 30, 1997 to all shareholders of record as of the close of business May 16, 1997.

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.
SOURCE Cabot Oil & Gas Corporation
CONTACT: Scott Schroeder, 281-589-4993, Ray Seegmiller, 281-589-4696, both of Cabot Oil & Gas Corporation