American Energy – Permian gets $500 million reserves-based revolver

By Susanna Moon

Chicago, Aug. 1 – American Energy – Permian Basin, LLC, an affiliate of American Energy Partners, LP, said it obtained a reserves-based revolving credit facility with an initial borrowing base of $500 million.

The borrowing base will remain in effect until the first regularly scheduled borrowing base redetermination in October, according to a company press release.

Bank of America, NA is the administrative agent and collateral agent; Goldman Sachs Bank USA is the syndication agent; and Wells Fargo Bank, NA is the technical agent and co-documentation agent.

The borrowing base will be based on the value of the company's oil and gas properties.

Proceeds will be used to fund capital expenditures and working capital requirements and for general corporate purposes.

American Energy is an Oklahoma City-based energy company involved in onshore U.S. unconventional resource plays.

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