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	300	$31	Acquired	7723400	Direct
2005-11-10	Common Stock	P	300	$31.02	Acquired	7723700	Direct
2005-11-10	Common Stock	P	1200	$31.04	Acquired	7724900	Direct
2005-11-10	Common Stock	P	800	$31.05	Acquired	7725700	Direct
2005-11-10	Common Stock	P	100	$31.06	Acquired	7725800	Direct
2005-11-10	Common Stock	P	100	$31.07	Acquired	7725900	Direct
2005-11-10	Common Stock	P	300	$31.08	Acquired	7726200	Direct
2005-11-10	Common Stock	P	5600	$31.09	Acquired	7731800	Direct
2005-11-10	Common Stock	P	200	$31.10	Acquired	7732000	Direct
2005-11-10	Common Stock	P	200	$31.11	Acquired	7732200	Direct
2005-11-10	Common Stock	P	800	$31.12	Acquired	7733000	Direct
2005-11-10	Common Stock	P	900	$31.13	Acquired	7733900	Direct
2005-11-10	Common Stock	P	300	$31.14	Acquired	7734200	Direct
2005-11-10	Common Stock	P	100	$31.15	Acquired	7734300	Direct
2005-11-10	Common Stock	P	700	$31.16	Acquired	7735000	Direct
2005-11-10	Common Stock	P	400	$31.18	Acquired	7735400	Direct
2005-11-10	Common Stock	P	500	$31.19	Acquired	7735900	Direct
2005-11-10	Common Stock	P	3500	$31.20	Acquired	7739400	Direct
2005-11-10	Common Stock	P	1100	$31.21	Acquired	7740500	Direct
2005-11-10	Common Stock	P	400	$31.22	Acquired	7740900	Direct
2005-11-10	Common Stock	P	1800	$31.23	Acquired	7742700	Direct
2005-11-10	Common Stock	P	200	$31.24	Acquired	7742900	Direct
2005-11-10	Common Stock	P	300	$31.25	Acquired	7743200	Direct
2005-11-10	Common Stock	P	500	$31.26	Acquired	7743700	Direct
2005-11-10	Common Stock	P	300	$31.27	Acquired	7744000	Direct
2005-11-10	Common Stock	P	600	$31.28	Acquired	7744600	Direct
2005-11-10	Common Stock	P	400	$31.29	Acquired	7745000	Direct
2005-11-10	Common Stock	P	300	$31.30	Acquired	7745300	Direct
2005-11-10	Common Stock	P	300	$31.31	Acquired	7745600	Direct
2005-11-10	Common Stock	P	800	$31.33	Acquired	7746400	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.