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
2005-11-04	Common Stock	P	4200	$31.19	Acquired	7199200	Direct
2005-11-04	Common Stock	P	5800	$31.20	Acquired	7205000	Direct
2005-11-04	Common Stock	P	2300	$31.21	Acquired	7207300	Direct
2005-11-04	Common Stock	P	2000	$31.22	Acquired	7209300	Direct
2005-11-04	Common Stock	P	900	$31.23	Acquired	7210200	Direct
2005-11-04	Common Stock	P	2700	$31.24	Acquired	7212900	Direct
2005-11-04	Common Stock	P	3800	$31.25	Acquired	7216700	Direct
2005-11-04	Common Stock	P	3400	$31.26	Acquired	7220100	Direct
2005-11-04	Common Stock	P	4100	$31.27	Acquired	7224200	Direct
2005-11-04	Common Stock	P	1300	$31.28	Acquired	7225500	Direct
2005-11-04	Common Stock	P	1800	$31.29	Acquired	7227300	Direct
2005-11-04	Common Stock	P	2600	$31.30	Acquired	7229900	Direct
2005-11-04	Common Stock	P	1300	$31.31	Acquired	7231200	Direct
2005-11-04	Common Stock	P	2000	$31.32	Acquired	7233200	Direct
2005-11-04	Common Stock	P	400	$31.34	Acquired	7233600	Direct
2005-11-04	Common Stock	P	600	$31.35	Acquired	7234200	Direct
2005-11-04	Common Stock	P	1200	$31.36	Acquired	7235400	Direct
2005-11-04	Common Stock	P	1500	$31.37	Acquired	7236900	Direct
2005-11-04	Common Stock	P	400	$31.38	Acquired	7237300	Direct
2005-11-04	Common Stock	P	2900	$31.40	Acquired	7240200	Direct
2005-11-04	Common Stock	P	1400	$31.41	Acquired	7241600	Direct
2005-11-04	Common Stock	P	600	$31.42	Acquired	7242200	Direct
2005-11-04	Common Stock	P	600	$31.43	Acquired	7242800	Direct
2005-11-04	Common Stock	P	300	$31.44	Acquired	7243100	Direct
2005-11-04	Common Stock	P	1100	$31.45	Acquired	7244200	Direct
2005-11-04	Common Stock	P	300	$31.46	Acquired	7244500	Direct
2005-11-04	Common Stock	P	3200	$31.47	Acquired	7247700	Direct
2005-11-04	Common Stock	P	600	$31.48	Acquired	7248300	Direct
2005-11-04	Common Stock	P	3300	$31.50	Acquired	7251600	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.