Altus Midstream expands revolver’s capacity to $800 million

By Sarah Lizee

Olympia, Wash., Feb. 11 – Altus Midstream Co. said Altus Midstream LP exited the initial period under its credit facility and, as a result, expanded the revolver’s capacity to $800 million from $650 million.

“Expanding our credit facility by $150 million gives us plenty of liquidity to execute our plan this year and next,” Clay Bretches, Altus chief executive officer and president, said in a press release.

He noted that this increase in borrowing capacity has been anticipated since the terms of the amended revolver agreement were announced in May 2019.

Altus, formerly known as Kayne Anderson Acquisition Corp., is a Houston-based pure-play, Permian Basin midstream C-corporation.

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