The US independent said it had agreed with lenders to expand its borrowing base to $360 million from $300 million and postpone a redetermination to January 2017, according to a filing with the US Securities & Exchange Commission.
The company said it had also made an interest payment of $56.8 million under the agreement.
The terms are contingent on the company reining in its capital expenditures as well as refinancing.
As
