Matador Resources lifts revolver borrowing base to $450 million

By Tali Rackner

Minneapolis, May 4 – Matador Resources Co. wholly owned subsidiary MRC Energy Co. entered into an amendment to its revolving credit agreement on April 28 to increase the borrowing base to $450 million from $400 million, according to an 8-K filing with the Securities and Exchange Commission.

Matador also reaffirmed its guaranty of MRC Energy’s obligations under the credit agreement.

The maximum facility amount is unchanged at $500 million. The company chose to keep the elected borrowing commitment at $400 million.

Dallas-based Matador is engaged in the exploration, development, production and acquisition of oil and natural gas resources.

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