Warren Resources increases borrowing base to $175 million (Scandinavian Oil-Gas Magazine)

Warren Resources increases borrowing base to $175 million

Published Jun 11, 2014

Warren Resources, Inc. announced that the syndicate of lenders underwriting the Company's $300 million senior secured credit facility (Credit Facility) has increased the conforming borrowing base to $175 million as a result of completing the spring 2014 semi-annual redetermination. In addition, the Credit Facility also has been amended to provide Warren with access to a new $10 million sublimit for swing line loans.

As of June 9, 2014, Warren has $81.5 million of debt outstanding under its Credit Facility, leaving $93.5 million available. The next borrowing base redetermination is scheduled for November 2014.

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