Superior Energy Services reduced the size of its credit facility to $400 million. According to a related 8-K filing, JPMorgan was administrative agent for the transaction.

In addition to reducing the amount of the facility, the amendment suspends the maximum leverage ratio until the fourth quarter of 2017 and replaces it with a senior secured debt to earnings before interest, taxes, depreciation and amortization ratio during this period. It reduces the EBITDA to interest ratio covenant until the fourth quarter of 2017 and modifies the minimum cash balance covenant to require less than a $150 million cash balance while there are less than $75 million of borrowings under the credit facility.

Further, the amendment modifies the restricted payment covenant to eliminate the company’s ability to pay dividends and make equity repurchases until September 30, 2017.

Houston-based Superior Energy Services provides oilfield services and equipment, focused on drilling and production-related needs of oil and gas companies.