Cabot Oil & Gas completes $900 million five-year credit facility

By Sara Rosenberg

New York, Oct. 5 - Cabot Oil & Gas Corp. closed on a $900 million revolving credit facility due 2015, according to a news release.

The borrowing base under the facility is set at $1.5 billion.

Proceeds were used to replace an existing $500 million revolver.

To accomplish the expansion, all of the company's existing lenders increased their commitments and one new institution was added to the syndicate.

Completion of the revolver occurred on Sept. 22.

Cabot Oil & Gas is a Houston-based natural gas producer.

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