HighPoint extends revolver, increases borrowing base to $500 million

By Sarah Lizee

Olympia, Wash., Sept. 17 – HighPoint Resources Corp. amended and restated its credit agreement to extend the maturity date of the revolving credit facility to 2023 and increase the borrowing base and commitments to $500 million, according to a press release.

The company said the 67% increase in the borrowing base is a result of the greater value of the Northeast Wattenberg assets due to ongoing development and reflects the contribution from the Hereford Field assets.

HighPoint currently has no amounts drawn on the revolver.

The bank syndicate was arranged by JPMorgan Chase Bank, NA and includes 11 participating lenders.

HighPoint is a Denver-based company focused on the development of oil and natural gas assets located in the Denver-Julesburg Basin of Colorado.

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