Cabot Oil & Gas Declares Dividend

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Cabot Oil & Gas Declares Dividend

    HOUSTON, Jan. 24 /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 21, 2003, to all shareholders of record as of
the close of business February 7, 2003.
    Cabot Oil & Gas Corporation, headquartered in Houston, Texas, is a leading
domestic independent natural gas producer and marketer with substantial
interests in the Gulf Coast, including Texas and Louisiana; the West, with the
Rocky Mountains and Mid-Continent; and the East.  For additional information,
visit the Company's Internet homepage at http://www.cabotog.com .
    The statements regarding future financial performance and results and the
other statements which are not historical facts contained in this release are
forward-looking statements that involve risks and uncertainties, including,
but not limited to, market factors, the market price (including regional basis
differentials) of natural gas and oil, results of future drilling and
marketing activity, future production and costs and other factors detailed in
the Company's Securities and Exchange Commission filings.

SOURCE Cabot Oil & Gas Corporation

http://www.cabotog.com
CONTACT:
Scott Schroeder of Cabot Oil & Gas
Corporation, +1-281-589-4993