April 27, 2009 (FinancialWire) — Cabot Oil & Gas Corp. (NYSE: COG) has completed a new $500 million unsecured revolving credit facility with a three-year term. J.P. Morgan Securities (NYSE: JPM) and Banc of America Securities (NYSE: BAC) were the joint book runners and co-lead arrangers.

In a statement, the company said that the borrowing base, which governs debt limits under the facility, now totals $1.35 billion. Company CEO Dan O. Dinges said that both the credit facility and the borrowing base reflect an increase of $150 million from levels under Cabot’s previous facility.

Houston-based Cabot Oil & Gas is an independent natural gas producer with interests in the Gulf Coast, including Texas and Louisiana. It also has interests in the Rocky Mountains and Mid-Continent, and in the East.

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