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Oasis Petroleum's lenders under its revolving credit agreement completed their regular semi-annual redetermination of the borrowing base, resulting in a reaffirmed borrowing base of $1.6 billion with elected commitments remaining at $1.35 billion.
In addition, maturity was extended to five years from the closing date, with a springing maturity 90 days prior to the maturity of the exiting 2022 and 2023 Senior Notes. The interest rate under the Oasis credit agreement ranges from LIBOR plus 150 bps to LIBOR plus 250 bps depending on borrowing base utilization.
The next redetermination of the borrowing base is scheduled for April 1, 2019.
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