Cabot Oil & Gas Announces New Director

HOUSTON, June 1, 2011 /PRNewswire/ -- Cabot Oil & Gas Corporation (NYSE: COG) today announced the election of Mr. W. Matt Ralls to its Board of Directors effective immediately.  The addition of Mr. Ralls to the board will bring the total to nine members, with eight qualifying as independent.

Mr. Ralls is currently with Rowan Companies having joined in January 2009 as Chief Executive Officer, President and director.  Mr. Ralls was with GlobalSantaFe Corporation, an international contract drilling company, and its predecessor company, Global Marine, from 1997 until the completion of the merger of GlobalSantaFe with Transocean in November 2007.  He served as GlobalSantaFe's Executive Vice President and Chief Operating Officer from 2005 through 2007 and prior to that was Senior Vice President and CFO.  From 1990 until 1996, Mr. Ralls was Executive Vice President and CFO of Kelley Oil and Gas Corporation.  Prior to joining Kelley, Mr. Ralls held various management positions with three large Texas banks.  He has a BS in Mechanical Engineering ('71) and an MBA ('73) from the University of Texas at Austin.

Mr. Ralls is a director of Complete Production Services and is a former director of Enterprise Products Partners and Enterprise GP Holdings, El Paso Partners and Kelley Oil and Gas Corporation.  Mr. Ralls is the current Chairman and member of the Executive Committee of the International Association of Drilling Contractors and a member of the Board of the American Petroleum Institute.

"I am excited that Matt has agreed to join Cabot's board.  His industry and financial experience will be very beneficial to our strategic efforts," said Dan O. Dinges, Chairman, President and CEO.

Cabot Oil & Gas Corporation, headquartered in Houston, Texas is a leading independent natural gas producer with its entire resource base located in the continental United States.  For additional information, visit the Company's Internet homepage at www.cabotog.com.

FOR MORE INFORMATION CONTACT

Scott Schroeder (281) 589-4993

SOURCE Cabot Oil & Gas Corporation

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