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	200	$31.34	Acquired	7746600	Direct
2005-11-10	Common Stock	P	100	$31.35	Acquired	7746700	Direct
2005-11-10	Common Stock	P	200	$31.39	Acquired	7746900	Direct
2005-11-10	Common Stock	P	1100	$31.40	Acquired	7748000	Direct
2005-11-10	Common Stock	P	700	$31.46	Acquired	7748700	Direct
2005-11-10	Common Stock	P	200	$31.47	Acquired	7748900	Direct
2005-11-10	Common Stock	P	500	$31.49	Acquired	7749400	Direct
2005-11-10	Common Stock	P	400	$31.50	Acquired	7749800	Direct
2005-11-10	Common Stock	P	100	$31.51	Acquired	7749900	Direct
2005-11-10	Common Stock	P	500	$31.56	Acquired	7750400	Direct
2005-11-10	Common Stock	P	200	$31.57	Acquired	7750600	Direct
2005-11-10	Common Stock	P	800	$31.58	Acquired	7751400	Direct
2005-11-10	Common Stock	P	2000	$31.60	Acquired	7753400	Direct
2005-11-10	Common Stock	P	900	$31.61	Acquired	7754300	Direct
2005-11-10	Common Stock	P	1500	$31.62	Acquired	7755800	Direct
2005-11-10	Common Stock	P	2800	$31.63	Acquired	7758600	Direct
2005-11-10	Common Stock	P	1500	$31.64	Acquired	7760100	Direct
2005-11-10	Common Stock	P	1000	$31.65	Acquired	7761100	Direct
2005-11-10	Common Stock	P	1700	$31.66	Acquired	7762800	Direct
2005-11-10	Common Stock	P	2900	$31.67	Acquired	7765700	Direct
2005-11-10	Common Stock	P	300	$31.68	Acquired	7766000	Direct
2005-11-10	Common Stock	P	1700	$31.69	Acquired	7767700	Direct
2005-11-10	Common Stock	P	200	$31.70	Acquired	7767900	Direct
2005-11-10	Common Stock	P	1200	$31.71	Acquired	7769100	Direct
2005-11-10	Common Stock	P	1600	$31.72	Acquired	7770700	Direct
2005-11-10	Common Stock	P	800	$31.73	Acquired	7771500	Direct
2005-11-10	Common Stock	P	600	$31.76	Acquired	7772100	Direct
2005-11-10	Common Stock	P	400	$31.78	Acquired	7772500	Direct
2005-11-10	Common Stock	P	600	$31.80	Acquired	7773100	Direct
2005-11-10	Common Stock	P	100	$31.81	Acquired	7773200	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.