UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): June 18, 2008

 

CABOT OIL & GAS CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware		1-10447		04-3072771
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

 

1200 Enclave Parkway
Houston, Texas		77077
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (281) 589-4600

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):

 

¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 

---

 

Item 8.01

Other Events.

Payments Under Supplemental Employee Incentive Plan

Based on the closing price of common stock of Cabot Oil & Gas Corporation (the “Company”) equaling or exceeding $60.00 per share for 20 trading days within a period of 60 consecutive trading days, on June 19, 2008, the Company will pay a total of $12.7 million to its non-officer employees pursuant to the Company’s Supplemental Employee Incentive Plan, and in connection with this payment, the Company expects to incur an after-tax charge of $7.1 million in the second quarter of 2008. The plan was intended to provide a compensation tool tied to stock market value creation to serve as an incentive and retention vehicle for full-time non-officer employees.

Amendment to Revolving Credit Agreement

On June 18, 2008, the Company amended its revolving credit agreement to increase the commitments of the lenders from $250 million to $350 million pursuant to the “accordion” feature in the credit agreement. The agreement is unsecured and does not provide for subsidiary guaranties. A description of the credit agreement is contained in Note 4 of the Notes to Consolidated Financial Statements included in Item 8 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2007, which description is incorporated by reference herein.

 

2

---

Principal Property Information

In response to comments from the Staff of the Division of Corporation Finance of the Securities and Exchange Commission, the Company is filing the following table, which presents certain information with respect to the Company’s principal properties as of and for the year ended December 31, 2007.

 

		Production Volumes
		Natural Gas (Mcf/d)		Oil and NGLs (Bbls/d)		Total (Mcfe/d)		Proved Reserves at Year-End (Mmcfe)		Producing Wells		Wells Drilled		Nature of Interest (Working/Royalty)
WEST VIRGINIA
Sissonville		4,193		3		4,211		120,235		397		83		W/R
Pineville		10,938		—		10,938		109,608		290		20		W/R
Hernshaw-Bull Creek		3,099		—		3,099		54,519		249		15		W/R
Logan-Holders-Dingess		6,545		—		7,626		84,751		202		33		W
Big Creek		3,071		—		3,071		62,255		195		26		W
OKLAHOMA
Mocane-Laverne		9,301		56		9,637		72,257		280		18		W/R
EAST TEXAS
Minden		10,596		205		11,826		136,619		89		53		W
County Line		4,979		14		5,063		30,425		13		13		W

 

3

---

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: June 18, 2008

 

4