Mid-Con Energy Partners sold the oil and natural gas assets within its Southern Oklahoma core area to Exponent Energy III, a Tulsa, OK-based company. In connection with the divestiture, Wells Fargo reduced the company’s borrowing base to $115 million.
Mid-Con Energy Partners received commitments from its lending group to change the borrowing base under its $250 million credit facility from $220 million to $190 million. Wells Fargo served as administrative agent.
Mid-Con Energy Partners announced it received lender commitments to increase its borrowing base to $170 million under the company’s existing revolver. RBC acted as administrative agent, and BOKF, Comerica, Wells Fargo and Bank of Nova Scotia were participant lenders.