The banking syndicate for Carrizo Oil & Gas Inc. (NASDAQ: CRZO) increased the company’s borrowing base in a semiannual redetermination, the company said Oct. 9.
It was increased to $675 million from $570 million, Carrizo added. The lenders’ aggregate commitment was limited to $585 million by the company, but it can be increased if at least one lender’s commitment is raised.
The next redetermination is scheduled for the spring of 2015, Carrizo said.
Wells Fargo led the banking syndicate as the administrative agent, the company noted.
Houston-based Carrizo Oil & Gas Inc. develops and produces domestic oil and natural gas.
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