CABOT CORP — Director's Dealing 2005

Nov 9, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CABOT CORP (CBT)
CIK: 0000016040
Period of Report: 2005-11-04

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
2005-11-07	Common Stock	P	10200	$31.16	Acquired	7676900	Direct
2005-11-07	Common Stock	P	7700	$31.17	Acquired	7684600	Direct
2005-11-07	Common Stock	P	4300	$31.18	Acquired	7688900	Direct
2005-11-07	Common Stock	P	3900	$31.19	Acquired	7692800	Direct
2005-11-07	Common Stock	P	13200	$31.20	Acquired	7706000	Direct
2005-11-07	Common Stock	P	1800	$31.21	Acquired	7707800	Direct
2005-11-07	Common Stock	P	3100	$31.22	Acquired	7710900	Direct
2005-11-07	Common Stock	P	2400	$31.23	Acquired	7713300	Direct
2005-11-07	Common Stock	P	700	$31.24	Acquired	7714000	Direct
2005-11-07	Common Stock	P	1900	$31.25	Acquired	7715900	Direct
2005-11-07	Common Stock	P	1000	$31.26	Acquired	7716900	Direct
2005-11-07	Common Stock	P	200	$31.27	Acquired	7717100	Direct
2005-11-07	Common Stock	P	3000	$31.30	Acquired	7720100	Direct
2005-11-07	Common Stock	P	1300	$31.31	Acquired	7721400	Direct
2005-11-07	Common Stock	P	400	$31.36	Acquired	7721800	Direct
2005-11-07	Common Stock	P	100	$31.43	Acquired	7721900	Direct
2005-11-07	Common Stock	P	700	$31.44	Acquired	7722600	Direct
2005-11-07	Common Stock	P	500	$31.48	Acquired	7723100	Direct

Footnotes

F1: 7,413,700 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.