Denbury Resources Inc. (NYSE: DNR) said Dec. 10 that it entered into a new, $3.5 billion five-year revolving credit facility.
The facility’s initial borrowing base is $3 billion, the company added.
A syndicate of 24 financial institutions provided the facility. JPMorgan Chase Bank NA was administrative agent. Bank of America NA and Wells Fargo Bank NA were co-syndication agents.
The lenders’ commitments were kept at $1.6 billion, the company said.
Plano, Texas-based Denbury Resources Inc. focuses on domestic EOR.
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