Print 
Mid-Con Energy Partners, LP reported a redetermination of its borrowing base to $220 million, a reduction of $20 million, or approximately 9% from previously established commitments.
The new borrowing base, which is part of MCEP's $250 million senior secured revolving credit facility, became effective April 2, 2015, with Royal Bank of Canada acting as Administrative Agent. Participant lenders include Bank of Nova Scotia, BOKF NA, Comerica Bank, Wells Fargo Bank N.A., Frost Bank and MUFG Union Bank.
Michael Peterson, Chief Financial Officer, said: "We appreciate the affirmation of support and unanimous approval from our lending group and believe this modest reduction is reflective of the quality of our high PDP, low decline asset base. In an environment where our strategy is to live within organic cash generation, our current borrowing capacity of $17 million affords ample liquidity at current NYMEX strip prices to support our day-to-day operations as well as our distribution and 2015 capital investment program."