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Black Ridge Oil & Gas Increases Borrowing Base

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April 23, 2014

Black Ridge Oil & Gas Inc. (OTC: ANFC) increased the borrowing base under its credit facility to $50 million, up from $43 million, the company said April 23.

The increase is partly based on a year-end 2013 adjustment that included a $2 million increase in the Cadence Bank N.A. senior secured credit facility. A $5 million increase in the term loan from Chambers Energy Management LP was also included in the adjustment, the company added.

These increases raised the facilities’ amounts from $18 million to $20 million and from $25 ...

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