Oasis Petroleum lifts revolving borrowing base to $1.75 billion

By Marisa Wong

Madison, Wis., April 1 - Oasis Petroleum Inc. said lenders under its revolving credit agreement completed their semiannual redetermination of the borrowing base, resulting in an increase to $1.75 billion from $1.5 billion.

The lenders' total commitment can be increased to the full $1.75 billion borrowing base by increasing the commitment of one or more lenders, according to a press release.

Oasis said it did not add any banks to the bank group.

The next redetermination of the borrowing base is scheduled for Oct. 1.

Wells Fargo Bank, NA is the administrative agent.

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

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