Laredo Petroleum reported the results of its credit facility redetermination.
The borrowing base of the Company's Senior Secured Credit Facility was reaffirmed at $725 million in association with the semi-annual redetermination process.
Senior Secured Credit Facility Highlights
(cash balance as of Oct. 19, 2020, includes recent acquisition payment)
- Reaffirmed borrowing base and maintained elected commitment of $725 million
- Reduced current borrowings to $220 million, a decrease from $275 million at June 30, 2020
- Increased liquidity to $476 million, including cash and cash equivalents of $15 million and adjusted for $44 million in letters of credit, an increase from $422 million at June 30, 2020
Related Categories :
Redetermination/Borrowing base
More Redetermination/Borrowing base News
-
Earthstone Energy's Credit Line Increased 21% to $1.7B
-
Silverbow's Borrowing Base Increased 48% to $775 Million
-
Amplify Energy's Borrowing Base Reaffirmed at $225MM
-
Northern Oil's Borrowing Base Raised Over 50% to $1.3 Billion
-
Earthstone's Credit Line Increased 6% to $1.4 Billion
Permian News >>>
-
Seventeen (17) E&Ps; To Use 47 Frac Crews To Complete 2,800 Wells In 2024
-
These Permian Operators Plan to Complete/Frac 2,100 Wells IN 2024
-
Large E&P Chops Permian/Anadarko Basin Frac Activity by 30% In 2024
-
Permian E&P Ups 2024 Well Completed by +27% vs. 2023
-
Contrary to The Noise, U.S. Oil Production will Likely Growth 4-5% In 2024; A look Inside -