Borrowing Base – Page 5

Antero Resources’ Borrowing Base Reaffirmed at $4.5 Billion

April 14, 2016

Antero Resources Announces First Quarter 2016 Operations Update DENVER, April 14, 2016 /PRNewswire/ — Antero Resources (NYSE: AR) (“Antero” or the “Company”) today provided its first quarter 2016 operations update. Highlights Include: Average net daily gas equivalent production was a record 1,758 MMcfe/d (23% liquids), an 18% increase over the prior year quarter and a 17% increase sequentially Average net

Touchstone Exploration Provides Credit Facility Update

April 14, 2016

CALGARY, ALBERTA–(Marketwired – April 14, 2016) – Touchstone Exploration Inc. (“Touchstone” or the “Company”) (TSX:TXP) announces an update regarding its credit facility. Touchstone’s borrowing base on its Trinidad based credit facility has been established at US$8,000,000 following the lender’s semi-annual borrowing base review. The Company currently has US$2,000,000 drawn on the credit facility, and US$6,000,000 is currently dedicated to the

Evolution Petroleum Announces New Reserve-Based Credit Facility

April 14, 2016

HOUSTON, April 13, 2016 /PRNewswire/ — Evolution Petroleum Corporation (NYSE MKT: EPM) today announced that it has entered into a new three-year, senior secured reserve-based credit facility (“Facility”) with MidFirst Bank of Oklahoma City, Oklahoma. The $50 million Facility replaces the Company’s unsecured credit facility which was set to mature on April 29, 2016. The initial borrowing base was set

Stone Energy Borrowing Base Now $300 Million

April 14, 2016

LAFAYETTE, La., April 14, 2016 /PRNewswire/ — Stone Energy Corporation (“Stone”) today announced an update on its first quarter operational activities and its borrowing base redetermination. First quarter results are expected to be reported in early May 2016. Production for the first quarter of 2016 was approximately 34 MBoe (or 204 MMcfe) per day, above the first quarter production guidance of 32-33

Borrowing Base Availability by Company

March 22, 2016

How Much Borrowing Base will be Left after Redeterminations? Bankruptcy and restructuring have become prevalent words in the oil and gas industry during the present price downturn. With spring borrowing base redeterminations already under way or quickly approaching, speculation is rampant as to the extent of cuts and who will suffer the consequences when cuts are made. Oil & Gas

Spring Borrowing Base Redeterminations: a Preview

January 20, 2016

Haynes and Boone polled banks, producers, private equity firms, professional services and oilservice companies in January to take an early pulse of the spring redetermination expectations from the industry and the financial institutions supplying the credit. Key findings by Haynes and Boone: Overall respondents expect 79% of the borrowers to see a decrease in their borrowing base in spring 2016

OPEC Countries: When the Money Runs Out, Then What?

November 11, 2015

Bridging the budget gap Lower commodity prices have hurt the economies of all of OPEC’s members considerably, with many of them needing to borrow money to bridge the budget gap. Libya, in particular, is expected to need large loans through the rest of the decade, with its borrowing as a percent of GDP reaching 68.15% this year, and an expectation

Oil prices fall on fading storm impact, Chinese economic data - Oil&Gas360

$17 Billion and Counting: The Oil Writeoffs are Piling Up Fast

October 28, 2015

Oil prices climbed on the eve of October’s busiest day of earnings season, but significant impairment charges put a damper on the brief rally. Large scale oil producers wrote off billions in the early stages of Q3’15 earnings, as Anadarko Petroleum (ticker: APC), Freeport McMoRan (ticker: FMX), Occidental Petroleum (ticker: OXY) and Whiting Petroleum (ticker: WLL) wrote off more than

Parallels Abound Between Baseball and the Energy Industry as 111th World Series Gets Underway

October 27, 2015

“The journey from the minor leagues to the World Series parallels the struggle to climb the ladder of American business. Many try, but only a few succeed.” – Roger Kahn, The Boys of Summer Call it a throwback to the 1980’s, if you will. Regardless of the outcome, the 2015 World Series will end a championship drought that has spanned

As Capital Tightens, E&Ps Stir the Gumbo

October 12, 2015

Borrowing Base Redeterminations Kicking into Full Swing Cyclicality in the oil and gas industry is a given. Across the board in today’s commodity price environment, the E&Ps and the OilService companies that provide them with drilling and completion services have worked hard to right-size costs. Management teams will expand and contract their companies’ drilling activity not necessarily by their doing,

Callon Petroleum Boosts Borrowing Base, Targeting Self-Funding by 2016

October 7, 2015

Permian operator Callon Petroleum (ticker: CPE) announced a 20% increase to its borrowing base on October 7, 2015. Its new borrowing base is $300 million – $50 million higher than its previous determination, and no other changes were made to the credit facility. In a company issued press release, Fred Callon, Chairman and Chief Executive Officer of Callon Petroleum, said,

Enterprise Increases Credit Facility

September 16, 2015

Enterprise Increases Capacity of Bank Credit Facilities by $500 Million to $5.5 Billion Enterprise Products Partners L.P. (NYSE:EPD) (“Enterprise”) announced today that its operating subsidiary, Enterprise Products Operating LLC (“EPO”), increased its bank credit facilities by $500 million to provide the company with up to $5.5 billion of aggregate borrowing capacity. The facilities consist of an amended $4.0 billion multi-year

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