Midstates Petroleum reaffirms $525M revolving credit facility

As a result of Midstates Petroleum Co. Inc.’s (NYSE: MPO) lenders' semiannual review, the borrowing base under its revolving credit facility has been reaffirmed at $525 million, with no reduction upon the anticipated closing in April of the Dequincy property sale.

The company also amended the leverage ratio covenant associated with the borrowing base to expand it to 4.5 times through Dec. 31. The borrowing base is supported solely by the company's Midcontinent assets and on Dec. 31, 2014, the company had $435 million drawn under this facility.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...