Mid-Con Energy extends revolver to 2021, makes other changes

By Wendy Van Sickle

Columbus, Ohio, Dec. 10 – Mid-Con Energy Partners, LP amended its revolving credit facility to extend the maturity date to May 1, 2021 and increase the borrowing base to $110 million from $95 million, according to a press release issued on Tuesday.

Additionally, a borrowing cap of $85 million was instituted unless the partnership has a consolidated funded indebtedness to consolidated EBITDAX of less than 3x.

Also, a maximum leverage ratio of consolidated funded indebtedness to consolidated EBITDAX was set at:

• 4x for the quarter ending Dec. 31;

• 3.75x for the quarter ending March 31, 2020; and

• 3.5x for the quarter ending June 30, 2020 and thereafter.

Mid-Con is a Tulsa, Okla.-based oil and gas producer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.