Finance & Investing | Capital Markets
Callon's Borrowing Base Stays at $300 Million
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Callon Petroleum Company announced that its lending group unanimously approved the reaffirmation of the Company's existing $300 million borrowing base under its senior secured revolving credit facility, including $300 million of related commitments, following the semi-annual redetermination process. All terms governing the credit facility remained unchanged.
Joe Gatto, Chief Financial Officer of Callon, said: "We believe that the outcome of our redetermination is a testament not only to the performance of our Midland Basin assets, but also to the achieved capital and operating cost reductions that have enabled us to continue a measured pace of development and efficiently grow our proved reserve base. We are appreciative of the ongoing support of our lending group and their contributions…
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