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	200	$30.95	Acquired	7251800	Direct
2005-11-07	Common Stock	P	1300	$30.96	Acquired	7253100	Direct
2005-11-07	Common Stock	P	400	$30.97	Acquired	7253500	Direct
2005-11-07	Common Stock	P	300	$30.98	Acquired	7253800	Direct
2005-11-07	Common Stock	P	4400	$30.99	Acquired	7258200	Direct
2005-11-07	Common Stock	P	267100	$31.00	Acquired	7525300	Direct
2005-11-07	Common Stock	P	14800	$31.01	Acquired	7540100	Direct
2005-11-07	Common Stock	P	6800	$31.02	Acquired	7546900	Direct
2005-11-07	Common Stock	P	7800	$31.03	Acquired	7554700	Direct
2005-11-07	Common Stock	P	6400	$31.04	Acquired	7561100	Direct
2005-11-07	Common Stock	P	7100	$31.05	Acquired	7568200	Direct
2005-11-07	Common Stock	P	4900	$31.06	Acquired	7573100	Direct
2005-11-07	Common Stock	P	500	$31.07	Acquired	7573600	Direct
2005-11-07	Common Stock	P	2000	$31.08	Acquired	7575600	Direct
2005-11-07	Common Stock	P	1000	$31.09	Acquired	7576600	Direct
2005-11-07	Common Stock	P	33300	$31.10	Acquired	7609900	Direct
2005-11-07	Common Stock	P	10300	$31.11	Acquired	7620200	Direct
2005-11-07	Common Stock	P	3500	$31.12	Acquired	7623700	Direct
2005-11-07	Common Stock	P	3800	$31.13	Acquired	7627500	Direct
2005-11-07	Common Stock	P	5600	$31.14	Acquired	7633100	Direct
2005-11-07	Common Stock	P	33600	$31.15	Acquired	7666700	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.