(Source: Shutterstock)
Northern Oil and Gas’ revolving credit facility has increased to $1.5 billion from $1.25 billion as part of its semi-annual borrowing-base redetermination, the company said on April 29
Under its reserve-based revolving credit facility, the borrowing base will remain at $1.8 billion. Northern said JP Morgan Chase Bank, Mizuho Bank and Comerica Bank have joined as new members of the facility’s lending syndicate.
“We are excited to welcome JP Morgan Chase, Mizuho and Comerica to our lending syndicate,” Northern CFO Chad Allen said in a press release. “The growing commitment of our lenders is a testament to the success and discipline of our growth strategy, and the opportunities ahead of us. Our massive liquidity advantage continues to expand versus our non-operated peers providing us with an ever-increasing competitive advantage.”
Recommended Reading
Chevron to Lay Off 15% to 20% of Global Workforce
2025-02-12 - At the end of 2023, Chevron employed 40,212 people across its operations. A layoff of 20% of total employees would be about 8,000 people.
EON Deal Adds Permian Interests, Restructures Balance Sheet
2025-02-11 - EON Resources Inc. will acquire Permian overriding royalty interests in a cash-and-equity deal with Pogo Royalty LLC, which has agreed to reduce certain liabilities and obligations owed to it by EON.
EOG’s Donald F. Textor to Retire from Board
2025-02-11 - Textor was first elected a director of EOG Resources in 2001, where his counsel played a key role in EOG’s growth, Chairman and CEO Ezra Y. Yacob said in a press release.
BP Pledges Strategy Reset as Annual Profit Falls by a Third
2025-02-11 - BP CEO Murray Auchincloss pledged on Feb. 11 to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.