Energen extends deadline to issue notes without borrowing base cut

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – Energen Corp. amended its credit agreement with Wells Fargo Bank, NA as administrative agent on Tuesday to extend a deadline relating to new senior notes that may be issued by the company, according to an 8-K filing with the Securities and Exchange Commission.

Specifically, the deadline for issuing those notes without a reduction in the borrowing base was extended from delivery of the notice of a new borrowing base for the redetermination scheduled for Oct. 1 to delivery of the notice of a new borrowing base for the redetermination scheduled for April 1.

At the Oct. 1 redetermination, the borrowing base was reaffirmed at $1.05 billion.

Energen is an oil and gas exploration and production company based in Birmingham, Ala.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.