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HighPoint Resources has entered into a new amended and restated credit agreement for its revolving credit facility.
The agreement extends the maturity date of the Facility by over three years to 2023 and increases the borrowing base and commitments by 67% to $500 million. The increase in the borrowing base is a result of the greater value of the Northeast Wattenberg assets due to ongoing development and reflects the contribution from the Hereford Field assets.
The Company currently has no amounts drawn on the facility.
The bank syndicate was arranged by JPMorgan Chase Bank, N.A. and includes 11 participating lenders.
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