Eagle Rock Energy Partners LP (Nasdaq: EROC) announced that the upstream component of the borrowing base under its senior secured credit facility has been increased to $400 million by its commercial lenders as part of the partnership's regularly scheduled semi-annual redetermination of the upstream component of the borrowing base. This represents an increase of approximately $58 million over the previous upstream component of the borrowing base.
The partnership's total borrowing base, including its midstream component and giving effect to the new upstream component, is approximately $780 million. The total borrowing capacity under the senior secured credit facility is limited to the lower of the borrowing base and the total lender commitments, which remain unchanged at $675 million.
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