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Oasis Petroleum's Borrowing Base Increased

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April 4, 2014

Lenders for Oasis Petroleum Inc.'s (NYSE: OAS) revolving credit facility increased the size of its borrowing base to $1.8 million, up from $1.5 billion, in an annual redetermination, the company said March 31.

Oasis Petroleum limited the lenders’ aggregate commitment to $1.5 billion, but the amount can be raised to $1.8 billion if the commitment of one or more lenders is increased, the company added.

There were no banks added to the bank group, the company said.

The next scheduled redetermination is Oct. 1, the company said.

Houston-based Oasis Petroleum ...

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