Goodrich Petroleum Corp.

Description

Goodrich Petroleum Corporation said that it has entered into a $250 million senior secured revolving credit agreement with JP Morgan Chase Bank NA (NYSE: JPM) and SunTrust Bank and SunTrust Robinson Humphrey, Inc. The credit facility has an initial borrowing base of $40 million and contains customary terms and conditions, including semi-annual borrowing base redeterminations. The company had $31.1 million of cash on hand as of Sept. 30 and has $23.3 million currently available under the credit facility.

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Estimated Price
$250.0MM
Financing Type
Report Date