Daily News: November 8, 2013

PNC Provides Horizon Mud With $18MM Revolver

PNC Bank N.A. announced the closing of a $18 million asset-based revolver for Horizon Mud Company.

The company is using the funds to refinance existing debt and provide ongoing working capital.

Midland, TX-based Horizon Mud Company provides drilling fluids and engineering services for oil and gas producers. The company serves onshore producers from field offices in Texas, New Mexico, Oklahoma, Arkansas, Louisiana and offshore producers in the Gulf of Mexico.