Callon Petroleum gets $175 million amended and restated facility

By Sara Rosenberg

New York, Aug. 31 - Callon Petroleum Co. closed on a $175 million amended and restated senior secured credit facility due July 31, 2010, according to a company news release.

Union Bank of California acted as the lead arranger and administrative agent.

The credit facility includes more favorable borrowing rates and an initial borrowing base of $75 million.

There is $6 million of borrowings outstanding under the facility.

Callon Petroleum is a Natchez, Miss., explorer, developer, acquirer and operator of oil and gas properties.

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