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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Fp/L9HLAhF/Yb1801Xq2i09j8l/xbdWTEKtkdt6P7Ic0tKuNKZ8toljbsNO2owa0
 8ucULkidYhS4I7kkdgv2vw==

<SEC-DOCUMENT>0001181431-04-002111.txt : 20040109
<SEC-HEADER>0001181431-04-002111.hdr.sgml : 20040109
<ACCEPTANCE-DATETIME>20040109162333
ACCESSION NUMBER:		0001181431-04-002111
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040108
FILED AS OF DATE:		20040109

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:			NANCE C WAYNE
		CENTRAL INDEX KEY:			0001188542

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10447
		FILM NUMBER:		04518331

	BUSINESS ADDRESS:	
		STREET 1:		214 NORTH BAY DRIVE EB
		CITY:			BULLARD
		STATE:			TX
		ZIP:			75757
		BUSINESS PHONE:		9038257725

	MAIL ADDRESS:	
		STREET 1:		214 NORTH BAY DRIVE EB
		CITY:			BULLARD
		STATE:			TX
		ZIP:			75757
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd28387.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2004-01-08</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000858470</issuerCik>
        <issuerName>CABOT OIL &amp; GAS CORP</issuerName>
        <issuerTradingSymbol>COG</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001188542</rptOwnerCik>
            <rptOwnerName>NANCE C WAYNE</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>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2004-01-08</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>5000</value></transactionShares><transactionPricePerShare><value>17.4375</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>8770</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTra
nsaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2004-01-08</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>5000</value></transactionShares><transactionPricePerShare><value>29.97</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>3770</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Stock Opton (right to buy)</value></securityTitle><conversionOrExercisePrice><value>17.4375</value></conversionOrExercisePrice><t
ransactionDate><value>2004-01-08</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>5000</value></transactionShares><transactionPricePerShare><value>17.4375</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2000-05-09</value><footnoteId id="F1"/></exerciseDate><expirationDate><value>2004-05-09</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common</value></underlyingSecurityTitle><underlyingSecurityShares><value>5000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>15000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></own
ershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">33 1/3 of option became exercisable on May 11, 2000 and an additional 33 1/3% becomes exercisable on each of the next two one-year anniversaries of such date.</footnote></footnotes><ownerSignature><signatureName>Lisa A. Machesney, Attorney-in-fact for C. Wayne Nance.</signatureName><signatureDate>2004-01-09</signatureDate></ownerSignature></ownershipDocument>



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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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