Lenders for Callon Petroleum Co. (NYSE: CPE) increased the borrowing base under its senior secured revolving credit facility to $300 million, up 20%, the company said Oct. 7.
This followed the regularly scheduled semiannual redetermination, and no other changes were made to the facility’s terms, the company said.
Fred Callon, chairman and CEO, said the increased liquidity helps provide the company more financial flexibility.
Natchez, Miss.-based Callon Petroleum Co. operates in the West Texas Permian Basin.
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