PetroBakken Energy report that lenders under our senior credit facility have committed to our request to increase the facility size by $150 million to a total facility lending limit of $1.5 billion.

At December 31, 2011, PetroBakken had approximately $1.2 billion drawn under this facility, which matures June 2, 2014. The prospective increase in the senior credit facility is expected to be made effective concurrent with the completion of our US$750 million high yield notes offering and, together with the net proceeds from such offering and our recently announced non-core asset sale, should further enhance our liquidity position.

Tags: PetroBakken Energy