Latest News and Analysis
Deals and Transactions
Track Drilling (Rigs by operator) | Completions (Frac Spreads)

Capital Markets

Panhandle's Borrowing Base Cut by $10MM Due to Low Gas Prices

emailEmail    |    printPrint    |    bookmarkBookmark
   |    Tuesday,August 06,2019

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

Ark-La-Tex News >>>

Mid-Continent News >>>