Print 
Eagle Rock Energy Partners, L.P. has reported that its lender group has unanimously approved an amendment to the Partnership's credit facility that allows for greater liquidity and certain covenant relief through the second quarter of 2014.
The amendment, among other items, provides for an increase in the midstream component of the facility's total borrowing base and provides for an increase in the Total Leverage Ratio and Senior Secured Leverage Ratio (as defined in the credit agreement) for the quarter ended June 30, 2014.
The Partnership also announced that effective June 1, 2014, the upstream component of the borrowing base will decrease from $380 million to $330 million as part of the Partnership's regular semi-annual redetermination by its commercial lenders.
After giving effect to the amendment and the redetermined upstream component of the borrowing base, the Partnership's total borrowing base as of June 1, 2014, will be approximately $819 million, an increase of approximately $5 million from the current borrowing base.
Permian News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
Apa Corp : Doing More With Less
APA's 2025 narrative was one of operational surprise. The company came in beating production guidance every single quarter while spending below plan, capturing over $300MM in cost savings…