Northern Oil and Gas closed a borrowing base redetermination and amended its revolving credit facility. The Royal Bank of Canada served as administrative agent.

The borrowing base under Northern’s revolving credit facility was set at $350 million, providing quarter-end liquidity of $237.4 million, composed of $4.4 million in cash and $233.0 million of revolving credit facility availability.

“Our long-standing focus on capital discipline allowed Northern to reduce spending, generate free cash flow and pay down an additional $33 million of debt during the quarter,” commented Northern Chief Executive Officer Michael Reger. “With our borrowing base redetermination and the improvements to our covenant requirements, we are in a strong liquidity position to continue the execution of our business plan.”