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Cequence Energy's senior credit facility has been cut to $9 million (down from $12 million) in as a result of the latest lender review.
The Company remains undrawn on its Senior Credit facility other than approximately $1.5 million in letters of credit.
More Borrowing Base Cut News
Exterran Corp.'s Credit Facility Reduced to $650MM; Down 7% from Prior
Exterran Corp. announced an amendment to its credit facility. As a result, the size of the credit facility will be adjusted from $700 million to $650 million. The…
Kosmos Borrowing Base Cut by $130MM to $1.32B
Kosmos Energy has successfully completed the re-determination of its reserve based lending credit facility. The Company's lending syndicate approved a borrowing base capacity of $1.32 billion, a reduction…
Permian E&P Borrowing Base Cut -13%; Shoring Up Balance Sheet
Earthstone Energy reported that its borrowing base was cut from $275 million to $240 million (-13%). Total outstanding debt is now $130 million vs $168.6 million as of…
Berry Corp. Borrowing Base Reduced to $200MM; Hedges Added
Berry Corp. reported that it has seen a reduction in its RBL elected commitment to $200 million. This reduction equates to an annual savings of $1 million. Cary…
Panhandle's Credit Cut Over 50% to $32MM; Current Debt of $28MM
Panhandle Oil & Gas has reported changes to its revolving credit facility by its lenders. The amended facility reduces the Company's borrowing base to $32 million effective June…
Canada News
Western Canada Upstream M&A: Q1 2026 Transaction Report
Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…
Canadan E&P 2026 Program Calls for 448 Net Wells, Up 24% vs. 2025 Plan
Canadian Natural Resources outlined a 2026 operating capital budget of approximately $6.3 billion (total capital budget $6,425 million, including $125 million for carbon capture) targeting 1,590–1,650 MBOE/d of…
EIA’s “Glut” Calls: The 2025 Surplus Claim — and How 2021–2024 Forecasts Actually Held Up
The “~2.2 MMb/d glut in 2025” framing traces to the EIA’s Short-Term Energy Outlook (STEO), December 2025. EIA doesn’t usually write “glut” in the tables—what they publish is…
Whitecap Details 2026 Duvernay & Montney Program
Whitecap Resources reported strong third quarter 2025 operating and financial results, marking its first full quarter following the strategic combination with Veren that closed on May 12, 2025.…
ARC Resources: Lower 2026 Capex, Higher Volumes
ARC Resources used its third quarter update to reinforce a familiar message to Canadian E&P executives: disciplined capital, structurally better market access, and a growing shareholder return program…