Sabine Oil & Gas entered into a forbearance agreement with the lenders under its second lien term loan facility. Wilmington Trust acted as administrative agent, according to an SEC filing dated May 20, 2015.

As previously reported, as of May 8, 2015, the company had a cash balance of approximately $276.9 million, which provides substantial liquidity to fund its current operations. The company is continuing to pay suppliers and other trade creditors in the ordinary course.

Sabine Oil & Gas is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the U.S.