Petroleum Development amends revolver, increasing size to $300 million

By Sara Rosenberg

New York, Nov. 28 - Petroleum Development Corp. amended its revolving credit facility, increasing the size to $300 million from $275 million, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

A limited waiver was also obtained, waiving the mortgage requirement until the earlier of a capital markets event or Dec. 31.

Without the waiver, the company would have been out of compliance with the mortgage requirement as a result of the increase in the revolver size.

The amendment and waiver were completed on Nov. 21.

JPMorgan is the administrative agent on the deal.

Petroleum Development is a Bridgeport, W. Va.-based energy company.

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