Exploration & Production | Capital Markets | Private Equity Activity
Post Acquisition, Memorial Ups Guidance for 2013-2014
Print
|
Memorial Production Partners LP has reported that, in conjunction with the closing of its multi-play acquisition, it has amended its multi-year credit facility from $1.0 billion to $2.0 billion, increased the number of lenders from 17 to 21 and increased its borrowing base from $480 million to $920 million.
As of October 1, 2013, including the total borrowings to pay for the acquisition, MEMP had approximately $675 million in borrowings outstanding under its credit facility and $245 million of borrowing availability, which management believes will provide the financial flexibility to continue pursuing MEMP's acquisition growth strategy.
2013 and 2014 GuidanceIn connection with the acquisition closing and current operations forecast, MEMP is revising its 2013 full year guidance and…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations