-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MRM3oSFduRhVy7F+XuyqgjHNet+mUCBM4L2Ya6DOrB9nSxxO/l4NO7GMaHkwTo/T
 8tBBBRTWcZbDkanQ0CMaKg==

<SEC-DOCUMENT>0001181431-08-012803.txt : 20080222
<SEC-HEADER>0001181431-08-012803.hdr.sgml : 20080222
<ACCEPTANCE-DATETIME>20080222102650
ACCESSION NUMBER:		0001181431-08-012803
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080220
FILED AS OF DATE:		20080222
DATE AS OF CHANGE:		20080222

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CABOT OIL & GAS CORP
		CENTRAL INDEX KEY:			0000858470
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				043072771
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1200 ENCLAVE PARKWAY
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77077
		BUSINESS PHONE:		2815894600

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WALEN MICHAEL B
		CENTRAL INDEX KEY:			0001200283

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10447
		FILM NUMBER:		08634892

	BUSINESS ADDRESS:	
		STREET 1:		CABOT OIL & GAS CORPORATION
		STREET 2:		1200 ENCLAVE PARKWAY
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77077-1607
		BUSINESS PHONE:		281 589 4617

	MAIL ADDRESS:	
		STREET 1:		CABOT OIL & GAS CORPORATION
		STREET 2:		PO BOX 4544
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77210-4544
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd194646.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-02-20</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000858470</issuerCik>
        <issuerName>CABOT OIL &amp; GAS CORP</issuerName>
        <issuerTradingSymbol>COG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001200283</rptOwnerCik>
            <rptOwnerName>WALEN MICHAEL B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1200 ENCLAVE PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77077-1607</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVP, Chief Operating Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Performance Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-02-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15050</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2010-12-31</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2010-12-31</value>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15050</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>145350</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Appreciation right</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>48.475</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-02-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>19925</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>48.475</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2009-02-20</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-02-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>19925</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>165275</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Award to Reporting Person under 2004 Incentive Plan.  The performance shares provide for payment in common stock and cash in an amount ranging from 0-200% of the performance shares awarded based upon certain performance criteria over a three-year performance period.</footnote>
        <footnote id="F2">Grant to Reporting Person under 2004 Incentive Plan.  SAR becomes exercisable in increments of one-third, (i.e. 6,641, 6,642 and 6,642) on February 20, 2009, February 20, 2010 and February 20, 2011, respectively.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Lisa A. Machesney, Attorney-in-Fact for Michael B. Walen.</signatureName>
        <signatureDate>2008-02-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----