Texas Capital Upsizes Lynden Revolver
Lynden Energy reported the company’s wholly owned subsidiary, Lynden USA, has secured an increase in its borrowing base, from $32 million to $40 million, under its reducing revolving line of credit led by Texas Capital Bank of Dallas, TX.
The borrowing base increase is part of a periodic review of the company’s oil and gas assets that secure the credit facility, and is directly related to the growth and value of those assets. There is currently $26.3 million drawn on the Credit Facility.
Vancouver, BC-based Lynden Energy is in the business of acquiring, exploring and developing petroleum and natural gas rights and properties.