Approach Resources amends revolver, changing pricing, commitment fee

By Sara Rosenberg

New York, April 13 - Approach Resources Inc. amended its revolving credit facility, increasing pricing and the commitment fee, according to a news release.

Pricing on the facility can now range from Libor plus 225 basis points to 325 bps depending on usage, and the commitment fee can now range from 37.5 bps to 50 bps.

In addition, the company's $100 million borrowing base was reaffirmed.

Frost National Bank is the agent on the deal.

Approach Resources is a Fort Worth, Texas-based independent energy company.

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