SilverBow lowers pricing under revolving credit facility by 50 bps

By Marisa Wong

Morgantown, W.Va., April 25 – SilverBow Resources, Inc. entered into a third amendment to its first amended and restated senior secured credit agreement dated April 19, 2017 with JPMorgan Chase Bank, NA, according to an 8-K filing with the Securities and Exchange Commission.

Among other things, the amendment reaffirms the borrowing base under the revolving credit facility at $330 million and decreases the applicable margin used to calculate the interest rate by 50 basis points.

The amendment also carves out some permitted basis differential swaps from the calculation of the maximum hedging covenant in the credit agreement.

SilverBow is a Houston-based oil and gas exploration and production company focused on the Eagle Ford shale.

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