Callon Petroleum Company entered into an amended and restated senior secured revolving credit facility that extends the facility’s maturity to Oct. 19, 2027. The credit facility will have a borrowing base of $2 billion with an elected commitment of $1.5 billion. According to an 8K filed with the SEC, JPMorgan Chase is the administrative agent for the facility.
“This extension represents the last transactional step in our financial repositioning plan that started two years ago,” Joe Gatto, president and CEO of Callon Petroleum Company, said. “From here, we will remain focused on further reducing our absolute debt balances with free cash flow and achieving our near-term goals on this front. I also want to thank our bank syndicate for their support and continued long-standing relationships.”
