CABOT CORP — Director's Dealing 2005

Oct 28, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CABOT CORP (CBT)
CIK: 0000016040
Period of Report: 2005-10-25

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
2005-10-25	Common Stock	P	100	$31.63	Acquired	6562700	Direct
2005-10-25	Common Stock	P	400	$31.66	Acquired	6563100	Direct
2005-10-25	Common Stock	P	300	$31.67	Acquired	6563400	Direct
2005-10-25	Common Stock	P	100	$31.68	Acquired	6563500	Direct
2005-10-25	Common Stock	P	200	$31.69	Acquired	6563700	Direct
2005-10-25	Common Stock	P	900	$31.70	Acquired	6564600	Direct
2005-10-25	Common Stock	P	900	$31.71	Acquired	6565500	Direct
2005-10-25	Common Stock	P	700	$31.72	Acquired	6566200	Direct
2005-10-25	Common Stock	P	2200	$31.73	Acquired	6568400	Direct
2005-10-25	Common Stock	P	200	$31.74	Acquired	6568600	Direct
2005-10-25	Common Stock	P	400	$31.75	Acquired	6569000	Direct
2005-10-25	Common Stock	P	400	$31.76	Acquired	6569400	Direct
2005-10-25	Common Stock	P	400	$31.77	Acquired	6569800	Direct
2005-10-25	Common Stock	P	600	$31.79	Acquired	6570400	Direct
2005-10-25	Common Stock	P	300	$31.82	Acquired	6570700	Direct
2005-10-25	Common Stock	P	200	$31.84	Acquired	6570900	Direct
2005-10-25	Common Stock	P	400	$31.85	Acquired	6571300	Direct
2005-10-25	Common Stock	P	800	$31.86	Acquired	6572100	Direct
2005-10-25	Common Stock	P	400	$31.87	Acquired	6572500	Direct
2005-10-25	Common Stock	P	100	$31.88	Acquired	6572600	Direct
2005-10-25	Common Stock	P	200	$31.89	Acquired	6572800	Direct
2005-10-25	Common Stock	P	100300	$31.90	Acquired	6673100	Direct
2005-10-25	Common Stock	P	500	$31.92	Acquired	6673600	Direct
2005-10-25	Common Stock	P	100	$31.93	Acquired	6673700	Direct
2005-10-25	Common Stock	P	200	$31.96	Acquired	6673900	Direct

Footnotes

F1: 6,364,500 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, 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.