Northern Oil and Gas completed the semi-annual re-determination under its revolving credit facility with the borrowing base reduced to $325 million from $350 million. According to a related 8-K filing, the Royal Bank of Canada served as administrative agent for the transaction.

Based on this new borrowing base, Northern had available liquidity of $196.5 million as of March 31, 2017, composed of $5.5 million in cash and $191 million of revolving credit facility availability.

As of May 4, 2017, the company had $134 million in outstanding borrowings under the credit facility, leaving $191 million of remaining availability.

Concurrently, BB&T established a separate $2.4 million term loan under the credit agreement. The proceeds of the term loan were used to fund the acquisition of the inventories of AirCo, a North Carolina-based company, and Kansas-based Aircraft Instrument and Radio Services.