Finance & Investing | Capital Markets
Bill Barrett's Borrowing Base Cut 11% to $335 Million
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Bill Barrett Corporation has successfully completed the semi-annual borrowing base redetermination of its revolving credit facility maturing inApril 2020.
The bank group has set a borrowing base of $335 million, an 11% reduction from the previous borrowing base of $375 million. There were no changes to the terms or conditions of the Facility. The Facility has $335 million of commitments and there are currently no borrowings outstanding.
Chief Executive Officer and President Scot Woodall commented, "We are pleased with the results of our semi-annual borrowing base redetermination and the continued support of our lender group during this challenging environment. Maintaining a borrowing base near our previous commitment level demonstrates the strong economics of our properties and reserve…
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