Sundance Energy increased its borrowing base to $210 million with an elected commitment of $190 million presently available and an increase in the facility’s maximum credit amount to $500 million.
TD Securities is the new administrative agent under the revolving credit facility.
“We believe that receiving a significant borrowing base increase under such difficult credit market conditions is a strong vote of confidence from our bank group reflecting the quality of our premier asset base and strong balance sheet, as well as our team’s continued success in delivering outstanding well results. This borrowing base increase, in addition to our pre-existing liquidity, should provide Sundance with a considerable cushion and ability for strategic flexibility as a newly redomiciled U.S. public company,” said Sundance’s Chief Executive Officer, Eric McCrady._x000D_
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Sundance Energy is an independent energy exploration company located in Denver.
