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


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...