Midstates Petroleum announced today that, as a result of its lenders’ semi-annual review, the borrowing base under its revolving credit facility has been reaffirmed at $252 million. There are currently no borrowings under the credit facility.

According to a related 8-K filing, SunTrust Bank acted as administrative agent.

“We believe we have the liquidity needed to navigate the existing environment and protect our flexibility and optionality until the macro outlook improves,” said Jack Brace, president and CEO of Midstates. “The reaffirmation of our borrowing base allows us the flexibility to continue to develop our premier position in the Miss Lime, even in the current price and reduced drilling environment.”

The company also provided an operational update for the Q3/15, saying that during the Q3, total company production averaged 32,609 barrels of oil equivalent per day of which approximately 39% was oil, 21% was natural gas liquids and the balance was natural gas.