Lenders for Alta Mesa Holdings LP increased its borrowing base as part of a redetermination, the company said Aug. 7.
The borrowing base was increased by $65 million, and now stands at $350 million instead of $285 million, the company said.
The credit facility supports the development and acquisition of oil and natural gas properties, and general corporate purposes including working capital, Alta Mesa said. A syndicate of 10 banks, with Wells Fargo Bank NA and Union Bank NA as co-agents, provided the credit facility, the company said.
The next redetermination is scheduled for Nov. 1, the company noted.
Houston-based Alta Mesa Holdings LP produces and acquires domestic onshore oil and natural gas.
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