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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
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