Scandoil  

EnerJex Resources increases borrowing base from $38 million to $40 million


Published Aug 18, 2014
EnerJex Resources, Inc.

EnerJex Resources, Inc. says that the borrowing base under its $100 million senior secured revolving line of credit with Texas Capital Bank, N.A. (TCB) has been increased from $38 million to $40 million and the maturity of this facility has been extended by three years to October 3, 2018. The current interest rate associated with this facility remains 3.3%.

As of June 30, 2014, the Company had $19 million borrowed under this credit facility, resulting in $21 million of immediately available liquidity which EnerJex is actively deploying across its vast portfolio of drilling and development opportunities in Colorado and Kansas. In addition, management expects the Company's borrowing base to increase significantly over time as EnerJex increases its oil and natural gas production and associated reserve value.

Tags: EnerJex Resources




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml