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RBC Agents Mid-Con’s Borrowing Base Increase to $170MM

April 15, 2014, 07:21 AM
Filed Under: Energy

Mid-Con Energy Partners, LP received lender commitments to increase its borrowing base to $170 million, up 13% from the $150 million in previously established commitments under MCEP's existing $250 million senior secured revolving credit facility ("Credit Facility"). This increase became effective on April 11, 2014, with Royal Bank of Canada acting as the Administrative Agent. Participant lenders included BOKF NA, Comerica Bank, Wells Fargo Bank N.A., 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 United States. Mid-Con Energy's core areas of operation are located in Southern Oklahoma, Northeastern Oklahoma and parts of Oklahoma, Texas, and Colorado within the Hugoton area.

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