Mid-Con Energy Partners announced that it received lender commitments to increase its borrowing base to $170 million, up 13% from the $150 million in previously established commitments under its existing $250 million senior secured revolving credit facility. This increase became effective on April 11, 2014, with Royal Bank of Canada acting as the administrative agent. Participant lenders included BOKF, Comerica Bank, Wells Fargo Bank and Bank of Nova Scotia.
The borrowing base is subject to scheduled bi-annual redeterminations on or about April 30 and October 31 of each year.
Mid-Con Energy is a Delaware limited partnership formed in July 2011 to own, operate, acquire, exploit and develop producing oil and natural gas properties in North America, with a focus on the Mid-Continent region of the U.S.