BMO, Capital One Agent Magnum Hunter Facility Expansion
Magnum Hunter Resources (MHR) announced the company’s conforming borrowing base under its $750 million senior bank facility has been increased by $43.75 million from $306.25 million to $350 million.
MHR said Bank of Montreal serves as the administrative agent under the facility, with Capital One serving as the syndication agent. Other banks in the facility include: ABN AMRO, Amegy Bank, Bank of America, Citibank, Credit Suisse, Deutsche Bank Americas, KeyBank, Royal Bank of Canada, SunTrust, Goldman Sachs Bank USA and UBS.
Houston, TX-based MHR is an independent exploration and production company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in the states of WV, KY, OH, TX, ND and Saskatchewan, Canada. The company is presently active in five of the most prolific unconventional shale resource plays in North America, namely the Marcellus Shale, Utica Shale, Eagle Ford Shale, Pearsall Shale and Williston Basin/Bakken Shale.