Lonestar Resources US completed its fall borrowing base redetermination with Citibank.
Citibank, agent for the company’s senior secured credit facility, informed the company that the bank group has reaffirmed the credit facility’s borrowing base of $290 million.
The company’s next regularly scheduled semi-annual borrowing base redetermination will be in May 2020.
“Given the current conditions in the credit markets and the sub-market pricing assumptions that are currently being used in borrowing base calculations across the industry, we believe that the reaffirmation of the company’s borrowing base is an endorsement of the quality of Lonestar’s asset base and the returns delivered by our capital program,” said Lonestar’s Chief Executive Officer, Frank D. Bracken, III.
Lonestar is an independent oil and natural gas company, focused on the development, production and acquisition of unconventional oil, natural gas liquids and natural gas properties in the Eagle Ford Shale in TX.