CABOT CORP — Director's Dealing 2005

Nov 15, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CABOT CORP (CBT)
CIK: 0000016040
Period of Report: 2005-11-10

Reporting Person: SPO ADVISORY CORP (10% Owner)
Reporting Person: SPO PARTNERS II LP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-11-10	Common Stock	P	600	$31.82	Acquired	7773800	Direct
2005-11-11	Common Stock	P	10000	$31.64	Acquired	7783800	Direct
2005-11-11	Common Stock	P	100	$31.69	Acquired	7783900	Direct
2005-11-11	Common Stock	P	100	$31.70	Acquired	7784000	Direct
2005-11-11	Common Stock	P	400	$31.75	Acquired	7784400	Direct
2005-11-11	Common Stock	P	200	$31.80	Acquired	7784600	Direct
2005-11-11	Common Stock	P	200	$31.83	Acquired	7784800	Direct
2005-11-11	Common Stock	P	500	$31.85	Acquired	7785300	Direct
2005-11-11	Common Stock	P	400	$31.86	Acquired	7785700	Direct
2005-11-11	Common Stock	P	300	$31.87	Acquired	7786000	Direct
2005-11-11	Common Stock	P	200	$31.88	Acquired	7786200	Direct
2005-11-11	Common Stock	P	500	$31.90	Acquired	7786700	Direct
2005-11-11	Common Stock	P	2600	$31.91	Acquired	7789300	Direct
2005-11-11	Common Stock	P	300	$31.92	Acquired	7789600	Direct
2005-11-11	Common Stock	P	3300	$31.93	Acquired	7792900	Direct
2005-11-11	Common Stock	P	2500	$31.94	Acquired	7795400	Direct
2005-11-11	Common Stock	P	1800	$31.95	Acquired	7797200	Direct
2005-11-11	Common Stock	P	4400	$31.96	Acquired	7801600	Direct
2005-11-11	Common Stock	P	1400	$31.97	Acquired	7803000	Direct
2005-11-11	Common Stock	P	3500	$31.98	Acquired	7806500	Direct
2005-11-11	Common Stock	P	3300	$31.99	Acquired	7809800	Direct
2005-11-11	Common Stock	P	1500	$32.00	Acquired	7811300	Direct
2005-11-11	Common Stock	P	100	$32.01	Acquired	7811400	Direct
2005-11-11	Common Stock	P	1200	$32.02	Acquired	7812600	Direct
2005-11-11	Common Stock	P	1000	$32.03	Acquired	7813600	Direct
2005-11-11	Common Stock	P	200	$32.04	Acquired	7813800	Direct
2005-11-11	Common Stock	P	1000	$32.05	Acquired	7814800	Direct
2005-11-11	Common Stock	P	3500	$32.06	Acquired	7818300	Direct
2005-11-11	Common Stock	P	5600	$32.07	Acquired	7823900	Direct
2005-11-11	Common Stock	P	3900	$32.08	Acquired	7827800	Direct

Footnotes

F1: 7,544,400 shares of the issuer's common stock are owned directly by SPO Partners II, L.P. ("SPO Partners"), and may be deemed to be indirectly beneficially owned by (i) SPO Advisory Partners, L.P. ("SPO Advisory"), the sole general partner of SPO Partners, (ii) SPO Advisory Corp. ("SPO Corp."), the sole general partner of SPO Advisory, and (iii) John H. Scully ("JHS"), William E. Oberndorf ("WEO") and William J. Patterson ("WJP"), the three controlling persons of SPO Corp. 309,400 shares of the issuer's common stock are owned directly by San Francisco Partners II, L.P. ("SF Partners"), and may be deemed to be indirectly beneficially owned by (i) SF Advisory Partners, L.P. ("SF Advisory"), the sole general partner of SF Partners, (ii) SPO Corp., the sole general partner of SF Advisory, and (iii) JHS, WEO and WJP, the three controlling persons of SPO Corp.