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Montage Resources Corp.'s lenders in its revolving credit facility have completed the Company's fall borrowing base redetermination and unanimously approved a 25% increase in its borrowing base, increasing commitments from $400 million to $500 million.
With this $100 million increase, the Company's liquidity, pro forma for the borrowing base redetermination, would have been approximately $353 million as of the end of the second quarter 2019.
In addition, the Company has expanded the lending group from 13 to 15 members, which represents a diverse group of financial institutions.
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