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Rosehill Resources reported that its lenders decided to increase the borrowing base under the Company's revolving credit facility from $220 million to $300 million - an increase of 36%.
The borrowing base was evaluated using reserve data as of December 31, 2018 and is expected to close on March 28, 2019.
The Company's redetermined borrowing base primarily consisted of proved reserves associated with its Northern Delaware area due to the limited number of producing wells in the Southern Delaware.
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