Email
Print 
Bookmark
Panhandle Oil & Gas has reported that its line-of-credit borrowing base was redetermined by the banks and reduced from $80 million to $70 million due to their lowered outlook for natural gas prices.
The current outstanding balance is $38.0 million. Current availability under the line is $32.0 million and combined with approximately $6.5 million in cash, the total liquidity is $38.5 million.
This level is expected to provide ample liquidity for the Company to continue to execute its normal operating strategies.
Related Categories :
Borrowing Base Cut
More Borrowing Base Cut News
-
Exterran Corp.'s Credit Facility Reduced to $650MM; Down 7% from Prior
-
Kosmos Borrowing Base Cut by $130MM to $1.32B
-
Permian E&P Borrowing Base Cut -13%; Shoring Up Balance Sheet -
-
Berry Corp. Borrowing Base Reduced to $200MM; Hedges Added
-
Panhandle's Credit Cut Over 50% to $32MM; Current Debt of $28MM
Ark-La-Tex News >>>
-
Oilfield Service Report : 11 New Leads/Company Formation & Contacts
-
Civitas Provides Update on Current Rigs & Frac Crews -
-
New Haynesville Focused E&P Scores Cash From Large PE Firm.
-
IOG forms Partnership with PE-Firm First Reverse To Fund DrillCo's -
-
Comstock Resources To Increase Haynesville Drilling Activity in 2025
Mid-Continent News >>>
-
Liberty Energy Reducing Frac Fleets As Market Activity Slows; Talks 2025 -
-
Top Oilfield Company Retire Rigs & Cut Frac Horsepower Expecting Soft 2025 Market
-
This Large E&P Will Run 10 Rigs & 6 Frac Crews In 2025
-
Top Mergers & Acquisitions Deals To Date In Q3 2024
-
Map : $12 Billion Plus in Permian Assets For Sale; Who are Will be the Buyers?
