Constellation Energy Partners LLC (NYSE: CEP) has executed an amendment to its reserve-based credit facility.

Pursuant to the amendment, the lenders to the reserve-based credit facility will consent to the sale of the Robinson’s Bend Field assets and subsequent release of collateral associated with those assets. Upon closing of the sale, the company’s borrowing base will be reduced to US $37.5 million and the maturity date of the facility will be extended to March 31, 2014.

“The amendment to our reserve-based credit facility is an interim step towards the restructuring ...