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Oasis Petroleum Inc. announced that the lenders under its revolving credit agreement completed their regular semi-annual redetermination of the borrowing base, resulting in an increase to the borrowing base from $1,750 million to $2,000 million.
However, the Company elected to limit the lenders' aggregate commitment to $1,500 million. The lenders' aggregate commitment can be increased to the full $2,000 million borrowing base by increasing the commitment of one or more lenders. Oasis did not add any banks to the bank group. The next redetermination of the borrowing base is scheduled for April 1, 2015.