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Lonestar Resources to pay down revolver via $14 million asset sale
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – Lonestar Resources US, Inc. plans to repay some borrowings under its revolving credit facility with the proceeds of the sale of its remaining conventional oil and gas assets to a private company for $14 million, according to a press release.
The sale is expected to close Oct. 31.
Lonestar reported that it has already reduced its long-term debt by $35 million to $284.4 million from June 30 to Sept. 30 via repurchases of its 8¾% senior notes due 2019.
Lonestar is an oil and gas company based in Fort Worth.
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