Oasis Petroleum lifts revolver borrowing base to $1.5 billion

By Marisa Wong

Madison, Wis., Sept. 5 - Oasis Petroleum Inc. amended its second amended and restated credit agreement on Sept. 3 to increase the borrowing base of its revolving credit facility to $1.5 billion from $1.25 billion, according to an 8-K filing with the Securities and Exchange Commission.

Elected commitments also totaled $1.5 billion.

The increase constitutes the lenders' regular semiannual redetermination of the borrowing base scheduled for Oct. 1. The next redetermination of the borrowing base is scheduled for April 1, 2014.

The company also added four new lenders to the bank group, the filing noted.

Wells Fargo Bank, NA is the administrative agent.

Oasis is a Houston-based oil and natural gas company.

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