Mid-Con Energy Partners LP (NasdaqGS: MCEP) increased its borrowing base to $170 million, up 13% from $150 million, the company said April 14. The increase became effective April 11, the company noted.
The company received lender commitments to raise the borrowing base, Mid-Con Energy Partners said, noting that previous commitments held the amount at $150 million. The company has a $250 million senior secured revolving credit facility, Mid-Con Energy noted.
Royal Bank of Canada was the administrative agent for the upsizing, and other lenders included BOKF N.A., Comerica Bank, Wells Fargo Bank N.A. and Bank of Nova Scotia, the company said.
The borrowing base is redetermined biannually, the company said.
Dallas-based Mid-Con Energy Partners LP is a Delaware limited partnership that operates, owns, acquires, exploits and develops North American oil and natural gas properties
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