Legacy Reserves LP (Nasdaq: LGCY) announced that it has secured commitments from its bank group to expand its borrowing base to $600 million from the previous $565 million under its $1 billion secured revolving credit agreement with its administrative agent, Wells Fargo Bank, National Association, its syndication agent, Compass Bank, and its co-documentation Agents, UBS AG and U.S. Bank National Association.
After closing an acquisition of Permian Basin properties for approximately $11.8 million on Oct. 1, 2012, Legacy had $462 million of debt outstanding under its credit agreement, leaving approximately $138 million available. The borrowing base is next scheduled to be redetermined on or about April 1, 2013.
Recommended Reading
Occidental Increases Annual Dividend by 22%
2024-02-11 - Occidental Petroleum Corp.’s newly declared dividend is at an annual rate of $0.88 per share, compared to the previous annual rate of $0.72 per share.
Atmos Energy Announces Quarterly Dividend
2024-02-11 - Atmos’ dividend marks the company’s 161st consecutive quarterly dividend.
From Restructuring to Reinvention, Weatherford Upbeat on Upcycle
2024-02-11 - Weatherford CEO Girish Saligram charts course for growth as the company looks to enter the third year of what appears to be a long upcycle.
Atlas Energy Solutions Declares Dividend
2024-02-09 - Atlas Energy’s dividend represents a 5% increase from the previous quarter’s dividend.
Northern Oil and Gas Ups Dividend 18%, Updates Hedging
2024-02-09 - Northern Oil and Gas, which recently closed acquisitions in the Utica Shale and Delaware Basin, announced a $0.40 per share dividend.