Magnum Hunter amends secured revolver after announcing asset sale

By Marisa Wong

Madison, Wis., Nov. 22 - Magnum Hunter Resources Corp. entered into a 19th amendment to its second amended and restated credit agreement with Bank of Montreal as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

In addition to other changes to the credit agreement's provisions, the amendment eliminates the dollar limitation on intercompany debt and investments between the company and a restricted subsidiary and between the company's restricted subsidiaries.

The second amended and restated credit agreement provides for an asset-based, senior secured revolving credit facility due April 13, 2016, the borrowing base of which is capped at $750 million.

The company entered into the amendment on Nov. 21, after announcing that its subsidiaries, PRC Williston, LLC and Williston Hunter ND, LLC, will sell some oil and gas properties to Eudoro Operating LLC.

Magnum Hunter is a Houston-based independent exploration and production company.

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