Lenders for Oasis Petroleum Inc. (NYSE: OAS) increased the aggregate elected commitment for the company’s borrowing base to $1,525 million, up from $1.5 million, the company said April 14. The borrowing base is at $1.7 million after the semiannual redetermination, the company added.
If one or more lender’s commitment is increased, the aggregate commitment can be increased to match the borrowing base.
The facility now matures in April 2020, instead of April 2018, if the 2019 senior notes are retired or refinanced 90 days before they mature, the company said.
The borrowing base facility is supported by 18 financial institutions.
The next redetermination is scheduled for Oct. 1.
Additionally, Oasis said it will detail the first-quarter 2015 financial and operational results on May 6, and will host a conference call on May 7.
Houston-based Oasis Petroleum Inc. acquires and develops Williston Basin oil and natural gas.
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