Lonestar Resources US Inc. reported Jan. 3 that it continues reducing its long-term debt.
On Dec. 31, its long-term debt stood at $212.3 million, lower by $107.2 million compared with $319.5 million at June 30, 2016, and lower by $74.1 million compared with $286.4 million at Sept. 30, 2016.
On Dec. 31, 2016, the long-term debt was comprised of $43.5 million under the revolving credit facility of Lonestar Resources Americas Inc. (LRAI), $17 million of LRAI's 12% second-lien senior notes and $151.8 million of 0.0875% LRAI unsecured notes.
On Dec. 30, 2016, a portion of the proceeds from the recent $79.4 million equity offering was used to repurchase $21 million of its 12% second-lien notes. The proceeds also repaid $49 million of its revolving credit facility and retired the $2.1 million Seaport repurchase facility.
Lonestar Resources US Inc. is based in Fort Worth, Texas.
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