Callon Petroleum gets $100 million amended and restated facility

By Sara Rosenberg

New York, Feb. 1 - Callon Petroleum Co. closed on a $100 million amended and restated senior secured credit facility due Sept. 25, 2012, according to a news release.

Regions Bank acted as the arranger and administrative agent on the deal.

The facility has an initial borrowing base of $20 million, which will be reviewed and re-determined on a semiannual basis.

Proceeds were used to replace an existing facility and will be used for capital expenditures and general corporate purposes.

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

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