Panhandle Oil and Gas updates borrowing base

Panhandle Oil and Gas Inc. (NYSE: PHX) says that its bank group, per the normal mid-year cycle timing, has set the borrowing base under its credit agreement at $120 million. 

The current outstanding balance under the facility is $67 million, which is a reduction of $11 million from the balance due at fiscal year-end Sept. 30, 2014. The facility matures on Nov. 30, 2018. All covenants and terms of the loan agreement remained unchanged.

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