EV Energy Partners LP (EVEP) said Oct. 8 it has entered into an amendment to its senior secured credit facility to increase the borrowing base by $125 million to $625 million.
Additionally, the Houston company's debt to EBITDAX ratio covenants were amended.
The company currently has more than $425 million of available liquidity in undrawn borrowing base and cash, said Michael Mercer, president and CEO.
"Given the volatility in commodity markets and the uncertainty over its duration, securing access to capital and maintaining sufficient liquidity are among EVEP's top priorities and we appreciate the continued support of our bank group in this process," Mercer said in a statement.
The next scheduled redetermination is April 2016.
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